Texton Property Fund
Texton Property Fund
Cliffe Dekker Hofmeyr is representing Texton Property Fund, the leading South Africa-based diversified property investment fund.
Our South Africa-based real estate team is advising Texton Property Fund on the sale of a letting enterprise and attending to the transfer of Hermanstad Industrial Park in Hermanstad, Pretoria.
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14 Jun 2023
by Lucinde Rhoodie and Claudia Grobler
Business rescue will not “rescue” void dispositions
As insolvency proceedings are becoming increasingly popular in South Africa, we see that the unanswered questions relating to the finetuned details of the proceedings are starting to surface. For example, what is the status of dispositions made by or on behalf of a company which has already been placed in liquidation? Taking it a step further, what is the status of dispositions made after the granting of the liquidation order, but before the company in liquidation was placed under business rescue? These were the questions recently answered by the court in Macneil Plastics (Pty) Ltd v Van Der Heever and Others (A228/2019) ZAGPPHC 357.
Business Rescue, Restructuring & Insolvency
5 min read
13 Sep 2023
by Belinda Scriba and Loyiso Bavuma
Evolving power dynamics between a board and business rescue practitioners: It’s a balancing act
As a result of the decision from the Supreme Court of Appeal (SCA) in the case of Tayob and Another v Shiva Uranium (Pty) Ltd and Others ZASCA there have been, and will continue to be, burning questions surrounding which powers shift from the board to the business rescue practitioners (BRPs) once a company has been placed under business rescue supervision. In the Shiva case, the court found that certain administrative powers were retained by the board. For more on the Shiva case see our articles here and here .
Business Rescue, Restructuring & Insolvency
7 min read
13 Sep 2023
BRP take the wheel: The effect of business rescue proceedings on directors
One of the areas of uncertainty which is often raised by individuals and entities alike when it comes to business rescue proceedings, is that of the division of function and duty between a duly appointed business rescue practitioner (BRP) and a company’s board of directors.
Business Rescue, Restructuring & Insolvency
4 min read
31 May 2023
by Dane Kruger and Jesse Prinsloo
Is conducting a wholly virtual shareholder meeting or AGM compliant with the Companies Act?
The COVID-19 pandemic posed various practical difficulties for many companies. Among those difficulties were the complexities of ensuring compliance with companies’ statutory obligations in terms of the Companies Act 71 of 2008 (Companies Act). At a time when remote working and virtual meetings became the “ new normal ”, many companies were required to rapidly adapt their standard procedures and structures to ensure their continued functioning as well as their legal and corporate governance compliance.
Corporate & Commercial Law
7 min read
22 Apr 2024
by Mongezi Mpahlwa
We need business rescue to combat extreme rise in liquidations
Mongezi Mpahlwa, Director of our Dispute Resolution practice joined Tumisang Ndlovu on Newzroom Afrika to discuss the need for business rescue to combat the extreme rise in liquidations.
Business Rescue, Restructuring & Insolvency
09:40 Minutes
11 Oct 2023
by David Thompson, Muzammil Ahmed and Lara Sneddon
Agribusiness acquisitions: What to know before you buy
While each business acquisition is unique, acquiring an agri-business raises some specific, important issues. These should always be considered and dealt with to some extent in the relevant sale agreement/s. In this alert, we briefly explore five of these issues. The structure of the deal will influence the wording of the relevant clauses but not the principles involved.
Agriculture, Aquaculture & Fishing
3 min read