South Africa and global insurance, financial institutions, banking and general law know–how
This blog was co-authored with Thokola Zungu, Candidate Attorney.
When a company in business rescue is a creditor of another company in business rescue, the right to vote on the business rescue plan for the debtor company vests in the business rescue practitioners of the creditor company and not in its board of directors.…
This blog was co-authored with Thokola Zungu, Candidate Attorney.
The Supreme Court of Appeal concluded that a right of action falls within the meaning of ‘movable property’ as defined in the Insolvency Act and vests in the trustees. Thus, by operation of the law, the trustees become the owners/holders of the right of action.
A loan becomes due (claimable) from the moment that it is lent to the borrower, unless the parties specifically agree otherwise.
In a September 2016 judgment the Supreme Court of Appeal held that a loan that was ‘due and payable to the lender within 30 days from the date of delivery of the lender’s written…
