The pivotal judgment of the Supreme Court of Appeal in Mashwayi Projects (Pty) Ltd and Others v Wescoal Mining (Pty) Ltd and Others delves into the nuances of the Companies Act, 2008 and finds that post-commencement creditors have the right to vote on the adoption of a business rescue plan. The decision overturns a previous
Widaad Ebrahim-Fakier
Dimension Data Facilities & Others vs. Identity Property Co & Others: A Cautionary Tale of Corporate Malfeasance
By Widaad Ebrahim-Fakier on
In a judgment delivered on 25 November 2024, the High Court of South Africa, Gauteng Local Division, Johannesburg declared a series of transactions involving Dimension Data Facilities (Pty) Ltd (Dimension Data Facilities) and Identity Property Co (Pty) Ltd (Identity PropCo) void and invalid. This case is poised to become a significant…
UPCOMING IT GOVERNANCE AND CYBERSECURITY AND RESILIENCE REGULATION IN THE FINANCIAL SERVICES SECTOR
By Widaad Ebrahim-Fakier on
In the ever-evolving landscape of financial regulation, the Financial Sector Conduct Authority and the Prudential Authority have introduced two pivotal standards aimed at enhancing the robustness of financial institutions’ IT frameworks. These are the Joint Standard 1 of 2023 – IT Governance and Risk Management Requirements, published in November 2023, and the Joint Standard…