The Request for Qualifications and Proposals (RFP) issued by the Department of Energy (DoE) in terms of the Coal Baseload IPP Procurement Programme does not make provision for shareholding by local communities in the project company.
Under the Renewable Energy IPP Procurement Programme (REIPPP), local communities were defined as residential areas or villages in South
If prospects of success of business rescue exist a court will allow business rescue to commence even if the company is in final liquidation.
In Richter v Absa Bank Limited, the Supreme Court of Appeal pointed out that business rescue protects interests of a wider group of people than liquidation and interpreted the Companies
Insurers should remember that, in the absence of fraud, settlement of an ill-founded claim is nonetheless binding and if you settle despite a reasonable suspicion of fraud you will be bound by the settlement.
That was confirmed as a well-established principle of English law recently in Hayward v Zurich Insurance Co.
It is also
The Eighth Circuit Appeals Court in St Louis USA dealt with a question that often arises under fidelity guarantee policies, namely what is a direct financial loss. It held that even though the loss was suffered by third party bank customers who recovered their loss from the bank, it was a direct financial loss for
Where a suretyship was headed “Deed of Suretyship – Tuning Fork (Pty) Limited t/a After Market Products” it was held that the surety only owed money for the debts incurred by the After Market Products division of the company even though that division was not a separate legal person.
The court in Ian Kilburn v
A failure to comply with the business rescue procedure timelines in Section 129(3) does not terminate the business rescue proceedings. Only a court can terminate those proceedings. This does not however mean that the time periods should be ignored. To avoid any court challenges the time periods stipulated must be complied with.
Business rescue is
Most of the fit and proper requirements suggested in the draft Board Notice published by the FSB are rational and in line with the broad discretion permitted by the Insurance Acts.
In every case the registrar must take into account the seriousness of the circumstances, the relevance of the failure to meet the criteria and
Ideally, when you contract with a trust, the agreement should be in the name of the trustee or trustees acting on behalf of the named trust. But where the trust is named as a party to the contract that does not render the contract invalid. This is the welcomed finding by the Supreme Court of
The Land and Agricultural Development Bank of South Africa lent the sum of R18.5 million to Panamo Properties 103 (Pty) Limited to enable it to purchase agricultural land that was going to be developed into a township. That agreement was invalid. The mortgage bond registered over the property to secure the loan was nonetheless
The Land and Agricultural Development Bank of South Africa granted a loan to Panamo Properties 103 (Pty) Limited for the acquisition of agricultural property and the development of a township. The loan was invalid because developing urban property is not within the powers of the Land Bank.
The Land Bank, which acts in terms of