Our team represented a leading US-based global professional services network
Our team represented a leading US-based global professional services network
We represented a leading US-based global professional services network in a cluster of related actions where so-called investors, who had invested their monies in a Ponzi scheme, sought an indemnity from our client should they not recover their money from the fraudster's estate.
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28 Sep 2023
by Puleng Mothabeng
The fight continues: Agrizzi gets to keep his money to pay for his medical bills
In a previous Tax Alert , we considered the judgment delivered by Judge Basson in Commissioner for the South African Revenue Services v Angelo Agrizzi and Another (45008/2021) ZAGPPHC 604 in relation to the repatriation application that was brought by the South African Revenue Service (SARS). In terms of the application, SARS was seeking an order to compel Angelo Agrizzi to repatriate his assets located in Italy to satisfy his outstanding tax debt.
Tax & Exchange Control
8 min read
22 Feb 2024
by Dane Kruger and Jenny Harwin
Don’t throw cautionaries to the wind: Navigating communication about potential affected transactions
In the context of “ affected transactions ”, which are transactions that are regulated in terms of the Takeover Regulations (see section 117(1)(c) of the Companies Act 71 of 2008 (Companies Act)), it is well-established and understood that the publication of a “ firm intention announcement ” (FIA) in respect of an affected transaction is a watershed event. The publication of an FIA triggers the commencement of the “ offer period ” (firm offer period) in respect of an affected transaction. From this point, the applicable offeror is bound to make a firm offer to the offeree-regulated company or its shareholders, as applicable, and to see the affected transaction to completion on and subject to the salient terms and conditions set out in theFIA.
Corporate & Commercial Law
6 min read
14 Jul 2023
by Alex Kanyi and Joan Kamau
Analysis of the High Court ruling in Petition No. E181 of 2023 on the suspension of the Finance Act, 2023
On 26 June 2023, the President of Kenya assented to the Finance Bill, 2023 (Bill) and the resultant Finance Act, 2023 (Act), which was to come into operation or be deemed to have come into operation on 1 July 2023.
Tax & Exchange Control
6 min read
20 Sep 2023
by Vivien Chaplin, Menachem Gudelsky and Gaby Wesson
Recent amendments to South Africa’s non-profit organisation legislation in response to the FATF greylisting
In 2021, the Financial Action Task Force (FATF) released its Mutual Evaluation Report of South Africa, which summarised the effectiveness of South Africa’s anti-money laundering and counter-terrorism financing measures.
Corporate & Commercial Law
3 min read
20 Sep 2023
by Lara Granville
Who will blink first?
In the arena of competition law, it is not unusual to see large corporates battle with regulators. However, in recent years, powerful companies have gone further – by pulling the plug on their provision of products and services entirely – when they perceive regulation going too far. Does this illustrate unbridled market power, or unbridled regulation to the detriment of consumers and users?
Competition Law
4 min read
29 Aug 2023
by Belinda Scriba, Paige Winfield and Gaby Wesson
Crypto fraud: Judge grants service, through NFTs, on unknown defendants
Cryptocurrency is yet another revolutionary invention in the online world. However, with innovation comes uncertainties, particularly in the legal field. This innovation requires us, like it, to redefine the parameters set in the past in the name of advancement. For litigation this means having to find new boundaries for elements like jurisdiction and service.
Dispute Resolution
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