ALERT LEVEL 3 – LOCKDOWN REGULATIONS

NO VOTING RIGHTS FOR POST COMMENCEMENT FINANCIERS

In a far-reaching recent judgement handed down in the South Gauteng High Court the Wescoal Mining (Pty) Ltd Another v Mkhombo NO and Other (2023-079991) [2023] ZAGPJHC 1097 (2 October 2023) the meaning of the term “creditor” was interpreted for purposes of the business rescue provisions of the 2008 Companies Act (“the Act”). The judgement...

CASE SUMMARY: The Butcher Shop and Grill CC v The Trustees for the time being of the Bymyam Trust

Case Summary – Butcher Shop and Grill v Bymyam Trust

GENERAL LAWS (ANTI-MONEY LAUNDERING AND COMBATING TERRORISM FINANCING) AMENDMENT ACT 22 OF 2022

The General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022 (“Act”) comes into force on 1 April 2023 and amends the following legislation: Trust Property Control Act Nonprofit Organisations Act Financial Intelligence Centre Act Companies Act 71 of 2008 Financial Sector Regulation Act Please see below the amendments to the Trust...