Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company
Our team acts for a leading South Africa-based financial advisory services company in opposing a class action suit launched against several respondents who represent classes of shareholders in a defunct manufacturing and retail group.
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The English High Court recently handed down a judgment in K1 and Others v B EWHC 2539 (Comm), dismissing an application to bring a challenge to an arbitral award under section 68(2)(g) of the Arbitration Act. Section 68 allows a party to challenge an award for a serious irregularity affecting the tribunal, the proceedings, or the award. Such irregularity must have caused, or will cause, substantial injustice. Section 68(2)(g) specifically refers to a serious irregularity where the award has been obtained by fraud, or where the award or the way in which it was procured is contrary to public policy.
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16 Jul 2025
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On 27 December 2024, certain sections of the Companies Amendment Act 16 of 2024 came into effect, which included an amendment to section 45 (“financial assistance”) of the Companies Act 71 of 2008 (Companies Act) that carves out “the giving by a company of financial assistance to or for the benefit of its subsidiaries”. This amendment in particular has steered recent dialogue towards the question: when does the provision of financial assistance by a company fall within the scope of section 45?
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