Government and State-Owned Entities News
More newsGordhan calls for law to change as SOEs pay suspended staff R300 million in 3 years
It cost several state-owned enterprises (SOEs) close to R300 million over the past three years to pay suspended employees.
What’s good for the goose is not necessarily good for the gander: Prescription periods for the State vs Organs of State
Amongst other things, the Prescription Act 68 of 1969 (Prescription Act) sets out the time periods governing the prescription of debts and also includes a list of grounds upon which, if satisfied, may be deemed sufficient to interrupt the running of prescription. When considering whether a particular debt might have prescribed, a question which may arise is whether any special time periods apply to debts owed to the State as opposed to so-called organs of state.
And that’s the tea… An analysis of financial distress and reasonable prospect in business rescue proceedings
During July 2020, the High Court in Kimberley was faced with the task of determining the fate of a 100% state owned rooibos tea producer and distributor, Nieuwoudtville Rooibos (the First Respondent). Clouds Kraal Boerdery CC (the Applicant), a commercial agricultural farming operator in the production of rooibos tea, and now creditor of Nieuwoudtville, brought an application before the abovementioned court, for an order placing the First Respondent under supervision and commencing with business rescue proceedings.