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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by Andrew Giliam, Jesse De Jager and Jenny Harwin
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For years, section 48 of the Companies Act 71 of 2008 (Act) has been the fussy relative of corporate law, transforming a simple share buyback into a full-scale family meeting, complete with special resolutions and expert reports. The recent amendments to the Act have given section 48 a welcome refresh. However, while the section takes two steps forward, by dispensing with the dreaded section 114 and 115 procedures, it has also taken one step back as now almost every buyback requires a special resolution ofshareholders.
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Administering a deceased estate requires careful compliance with a range of legal requirements and procedural steps. Handling immovable property within the estate can be particularly complex, as this is governed by several key pieces of legislation, and the approach will differ depending on the matrimonial status of the deceased.
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