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Preferred or not preferred – the super preferent status of a business rescue practitioner in subsequent liquidation proceedings
23 May 2018 Business Rescue, Restructuring & Insolvency

Preferred or not preferred – the super preferent status of a business rescue practitioner in subsequent liquidation proceedings

The Supreme Court of Appeal provided clarity in Diener N.O. v Minister of Justice & Others (926/2016) regarding the ranking of the business rescue practitioner’s (BRP) claim for remuneration and expenses. The SCA also clarified whether such claim was conferred a “super preference” over all creditors, secured and unsecured in subsequent liquidation proceedings.

Does an arbitration award create a new debt?
23 May 2018 Dispute Resolution

Does an arbitration award create a new debt?

The somewhat conceivable tension between the Arbitration Act, 1965 and the Prescription Act, 1969 has received a lot of attention from the courts recently. In the main, the issues are whether an arbitration award creates a new debt and whether a claim to make an arbitration award an order of court prescribes within three years of its publication in terms of the Prescription Act. In the recent case of Brompton Court Body Corporate v Khumalo (398/2017) [2018] ZASCA 27 (23 March 2018) the Supreme Court of Appeal (SCA) grappled with these questions and provided some guidance.

Unprotected strike action and the effect of employer-issued ultimata
22 May 2018 Employment

Unprotected strike action and the effect of employer-issued ultimata

NUMSA; KD Kutu and 352 others v IG Tooling and Light Engineering (Pty) Ltd (LC) unreported case no JS763/06 (15 May 2018) dealt with numerous legal issues emanating from unprotected strike action. This alert focusses on one of those legal issues, namely the effect of the ultimata issued by the Respondent employer in this matter, IG Tooling and Light Engineering (IGT).

Comply or be committed to prison
22 May 2018 Employment

Comply or be committed to prison

Compliance with court orders is an important part of the dispute resolution mechanism in any legal system and as such, non-compliance with court orders goes against the binding nature of court orders and the powers of the court. The existence of the contempt procedure is to deal with instances of non-compliance and to ensure that in one way or another, non-compliance is punishable.

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Preferred or not preferred – the super preferent status of a business rescue practitioner in subsequent liquidation proceedings
23 May 2018 Business Rescue, Restructuring & Insolvency

Preferred or not preferred – the super preferent status of a business rescue practitioner in subsequent liquidation proceedings

The Supreme Court of Appeal provided clarity in Diener N.O. v Minister of Justice & Others (926/2016) regarding the ranking of the business rescue practitioner’s (BRP) claim for remuneration and expenses. The SCA also clarified whether such claim was conferred a “super preference” over all creditors, secured and unsecured in subsequent liquidation proceedings.

Does an arbitration award create a new debt?
23 May 2018 Dispute Resolution

Does an arbitration award create a new debt?

The somewhat conceivable tension between the Arbitration Act, 1965 and the Prescription Act, 1969 has received a lot of attention from the courts recently. In the main, the issues are whether an arbitration award creates a new debt and whether a claim to make an arbitration award an order of court prescribes within three years of its publication in terms of the Prescription Act. In the recent case of Brompton Court Body Corporate v Khumalo (398/2017) [2018] ZASCA 27 (23 March 2018) the Supreme Court of Appeal (SCA) grappled with these questions and provided some guidance.

Unprotected strike action and the effect of employer-issued ultimata
22 May 2018 Employment

Unprotected strike action and the effect of employer-issued ultimata

NUMSA; KD Kutu and 352 others v IG Tooling and Light Engineering (Pty) Ltd (LC) unreported case no JS763/06 (15 May 2018) dealt with numerous legal issues emanating from unprotected strike action. This alert focusses on one of those legal issues, namely the effect of the ultimata issued by the Respondent employer in this matter, IG Tooling and Light Engineering (IGT).

Comply or be committed to prison
22 May 2018 Employment

Comply or be committed to prison

Compliance with court orders is an important part of the dispute resolution mechanism in any legal system and as such, non-compliance with court orders goes against the binding nature of court orders and the powers of the court. The existence of the contempt procedure is to deal with instances of non-compliance and to ensure that in one way or another, non-compliance is punishable.

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We mourn the passing of Ma'm Winnie
3 April 2018

We mourn the passing of Ma'm Winnie

As we mourn the loss of another South African heroine, Ma’m Winnie Madikizela-Mandela, we ought to consider what she has meant to all of us South Africans, and how her memory may serve to embolden and enrich the pursuit of a better life for all - fundamentally – the pursuit of social justice, in our country.

Ignorance is not bliss: A recent judgment about understatement penalties and a caution to taxpayers
23 March 2018 Tax & Exchange Control

Ignorance is not bliss: A recent judgment about understatement penalties and a caution to taxpayers

In the recent matter of Mr A & XYZ CC v The Commissioner for the South African Revenue Service (Case Nos IT13725 & VAT1426, IT13727 & VAT1096), which involved four combined cases, the South African Revenue Service (SARS) issued assessments to Mr A and XYZ CC (Taxpayers) relating to income tax for the 2007 to 2012 years of assessment and Value-Added Tax (VAT) for the 2006 to 2013 periods.

Domestic treasury management companies
23 March 2018 Tax & Exchange Control

Domestic treasury management companies

In 2013, the South African government introduced the domestic treasury management company (DTMC) regime to enable South African companies, which are registered with the Financial Surveillance Department (FSD) of the South African Reserve Bank (SARB), to expand into the rest of Africa and abroad. The DTMC regime allows South African companies to establish one subsidiary as a holding company to hold African and offshore operations, without being subject to exchange control restrictions.

Cliffe Dekker Hofmeyr recognised as leading firm for M&A and Corporate Finance deals in 2017
13 March 2018 Mergers & Acquisitions

Cliffe Dekker Hofmeyr recognised as leading firm for M&A and Corporate Finance deals in 2017

Cliffe Dekker Hofmeyr (CDH) has been recognised by DealMakers as the local law firm that has consistently advised on the most number of M&A deals in South Africa. The firm clinched the prestigious M&A Deal Flow award for the ninth consecutive year – with deals totalling R119,576 billion in value – at the annual DealMakers Awards. CDH was awarded second place in the M&A Deal Value category. The firm also achieved notable M&A Deal Flow and Deal Value rankings in the BEE and Africa categories.

Shining in a slow M&A market
2 March 2018 Corporate & Commercial

Shining in a slow M&A market

Cliffe Dekker Hofmeyr (CDH) was recognised by DealMakers for the ninth successive year, at last week’s annual DealMakers Awards, as the local law firm that has consistently advised on the most number of Mergers and Acquisitions (M&A) deals in South Africa. The firm clinched the prestigious M&A Deal Flow award with deals totalling R119.6bn in value and was awarded second place in the M&A Deal Value category. The firm also achieved notable M&A Deal Flow and Deal Value rankings in the BEE and Africa categories.

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CDH recognised as leading firm by DealMakers in 2017
25 April 2018 Corporate & Commercial

CDH recognised as leading firm by DealMakers in 2017

Cliffe Dekker Hofmeyr (CDH) has been recognised by DealMakers as the local law firm that has consistently advised on the most number of M&A deals in South Africa. The firm clinched the prestigious M&A Deal Flow award for the ninth consecutive year – with deals totalling R119,576 billion in value – at the annual DealMakers Awards. CDH was awarded second place in the M&A Deal Value category. The firm also achieved notable M&A Deal Flow and Deal Value rankings in the BEE and Africa categories. Watch our latest TV advert.

The future of BEE in South Africa
4 April 2018 Corporate & Commercial

The future of BEE in South Africa

Corporate & Commercial Directors Verushca Pillay and Allan Hannie share their thoughts on the pitfalls and the future of BEE in South Africa.

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Jerome Brink discusses sugar tax
12 March 2018 Tax & Exchange Control

Jerome Brink discusses sugar tax

Senior Associate in Tax & Exchange Control, Jerome Brink, was recently interviewed by Cape Talk's John Maytham. During his interview he discussed sugar tax, which will come into effect on 1 April.