The concept of a binding offer by creditors in business rescue now clarified.

A landmark decision has been made by the Supreme Court of Appeal whereby the concept of a binding offer in the business rescue context has now been clarified. Previously in circumstances where a business rescue plan cannot be adopted due to opposition, creditors in support of the plan would make binding offers to those creditors opposed to it. Offers are …

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New Chairperson Appointed

Deirdré Olivier has been appointed Chairperson of Fairbridges Wertheim Becker. A BA LLB graduate of the University of Cape Town. She served her articles at Fairbridges, was admitted as an attorney in 1995, and later qualified as a notary public. She has been a director of the firm since 1997 and heads up litigation at the Cape Town office. She …

The Alienation of Land Act

In the recent Constitutional Court case of Botha v Rich NO the court decided that a purchaser may force a transfer of land in terms of Section 27 of the Alienation of Land Act, provided that more than half the purchase price has been paid and that the purchaser is not in arrears. The court further held that the principle …

Bangladesh extends territory

The Permanent Court of Arbitration in The Hague has awarded Bangladesh more than 9 700 square miles in the Bay of Bengal, ending a three decade-long maritime dispute between Bangladesh and India. Bangladesh initiated the arbitral proceedings against India. The dispute originated from the partition of British India into the two states of India and Pakistan in 1947.

Insight into POPI (Protection of Personal Information Act)

Did you know that in terms of Section 5(f) of the POPI, you have the right not to be solicited by direct marketing by means of unsolicited electronic communications (text, voice, sound or image message) without your consent. Such direct marketing must contain the details of the sender, together with the contact details necessary to direct a request that the …

Advertising Standards Authority Ruling

In a recent Advertising Standards Authority (ASA) matter involving a billboard on the Soweto Highway, Mini Cooper undertook not to use the phrase “DRIVE IT LIKE IT’S STOLEN” again to promote its products. According to the complainants the advertisement, which featured a billboard with the shape of a Mini Cooper cut out of it, was irresponsible and offensive in that …

Women´s day

“The fastest way to change society is to mobilize the women of the world.” – Charles Malik

Mergers and acquisitions picking up

According to UK research firm Mergermarket, mergers and acquisitions are starting to pick up after six years of stagnation. It is likely that companies in South Africa and other African countries will follow this trend, particularly those countries unconstrained by competition regulations. These sorts of deals are expected to find the most growth in the mining sector and in renewable …

Mediation FAQ 5

How is the mediator appointed? It is essential that the mediator is seen as independent and impartial. The mediator is appointed either by the parties themselves, after agreeing on a mediator from a list of nominations, by the Chair of an independent institution, after having been requested to do so. Where particular expertise is required, such as an accounting background …

New Practice Rule – Cape Town Regional Court

Last month the Cape Town Regional Court introduced a practice rule that all applications for default judgment take place in open court and that a representative of the applicant be present. Previously a default judgment was decided by a Magistrate on the papers, which would be sent back to the applicant with queries. The new procedure will simplify and expedite …

Prescribed Rate of Interest Increases

As of 1 August of this year, the prescribed (default) rate of interest on all claims has been reduced from 15% to 9%. This means that a litigant will not be able to claim more than 9% on any monetary claim brought to court, unless a different rate of interest has been agreed between the parties beforehand.

Miss Soweto

The Miss Soweto beauty pageant takes place today at the New Soweto Theatre in Jabulani. The pageant, which was first established in 1979, has produced two Miss South Africa’s and one Miss Universe, and is often as a professional springboard for its winners. Each year a percentage of the pageant’s proceeds contribute towards funding a worthy cause or charity in …

Law Firm Leadership – Louis Rood

Congratulations to our Chairman, Louis Rood, whose article “Law Firm Leadership” appeared in the July 2014 issue of De Rebus http://www.myvirtualpaper.com/doc/derebus/de_rebus_digital_july_2014/2014061802/24.html#24

Who´s who in the Fairbridges Zoo?

Wickaum Smith, a Director at Fairbridges, specialising in Medical Law, Administrative Law, Insurance Law and general litigation. https://www.fwbattorneys.co.za/attorney/wickaum-smith/

Whistle-blowers can face prison time

Whistle-blowers who deliberately disclose false information could face up to two years in prison, and fines. These penalties are contained in new amendments to the Protected Disclosures Act, recently published for public comment. Should the amendments be signed into law, it will be a criminal offence to knowingly disclose false information.

Albie Sachs´ view of the Constitutional Court

In a recent interview, former Constitutional Court judge Albie Sachs, in explaining his role in setting up the Constitutitional Court, expressed his love for the court and his former colleagues. ‘We were from such different backgrounds, philosophically, culturally and professionally, and were all motivated to try and make operational sense of this beautiful document we’d produced. I don’t think there’s …

Prescription period waived in negligence case

Judge Tshiqi in the Supreme Court of Appeal in Macleod v Kweyiya, recently decided that the claimant was entitled to sue her attorney 25 years after her case against the Road Accident Fund was settled negligently. The claimant was rendered a paraplegic after a motor vehicle accident and the attorney was appointed by her mother to claim damages. Irrespective of …

New Anti-Avoidance Measures

New anti-avoidance measure for employee-share incentive schemes. The treasury has recognised that employee-share incentive schemes have created “disguised” salaries for employees that are tax free. How? Equity shares are held on behalf of employees, with the sole intention of generating dividends for employees, without the employees taking ownership of the shares, thereby creating tax-free dividends. A new proviso, inserted into …

Cape Town Fashion Week

Cape Town Fashion Week begins today and runs until Saturday at the CTICC. The event showcases the work of some of South Africa’s most innovative designers, including Gavin Rajah and David Tlale, as well as a conference where speakers give budding designers business advice, and a show featuring the work of fashion students studying at institutions affiliated to African Fashion …

Insight into POPI (Protection of Personal Information Act)

What happens if a business does not follow POPI? Apart from being subject to fines and other penalties, the reputation of a business may be compromised as customers will not do business with a company which does not handle their personal information with care.