Akhona Boloko

Entering into a compromise with creditors – ten things to consider

By Akhona Boloko and Shawn Barnett (ZA) on May 27, 2020 Posted in General

Companies may attempt to rearrange their financial affairs to minimise the financial impact of the pandemic (or for any other reason). Section 155 of the Companies Act provides an informal mechanism of restructuring a company’s obligations to creditors. Here are 10 things to consider when entering into a compromise with creditors: A compromise is an … Continue reading

10 things to know about business rescue

By Akhona Boloko and Shawn Barnett (ZA) on April 21, 2020 Posted in General

Business rescue offers a very useful alternative to the liquidation or winding-up of a company. During and after the pandemic, many companies may have to consider whether business rescue is an appropriate response to the economic impact that COVID-19 may have had on their business. Here are 10 things to know when considering business rescue: … Continue reading

Directors’ responsibilities and risk taking

By Stephen Kennedy-Good and Akhona Boloko on April 15, 2020 Posted in General

Businesses across the country are facing serious headwinds. South African law requires that directors must exercise their powers in the best interests of the company, and with the degree of care, skill and diligence that may be reasonably expected of a person carrying out those functions. Directors can be held personally liable, and are now … Continue reading