WINDING-UP OF SOLVENT AND INSOLVENT COMPANIES BACKGROUND Companies experiencing financial distress may not necessarily qualify for business rescue and must therefore resort to liquidation, which is also know as winding-up. A distinction must be drawn between the winding-up of a solvent and insolvent company. The winding-up of insolvent companies is governed by the provisions of [...]

The buzzword on many lips these days, following the Presidency’s announcement on 22 June 2020, is the Protection of Personal Information Act (Act No. 4 of 2013) (“the Act”), which more commonly goes by the somewhat catchy acronym “POPIA”, or “POPI” as it is sometimes referred to. The reason for the excitement is that South [...]

An alter-ego trust can be described, in simple terms, as a trust which is treated as an extension of one of the trustees, and therefore the trust assets are treated as the assets of the trustee in his or her personal capacity. If a trust can be regarded as an alter-ego trust, it can have [...]

WHAT IS AN ALTER-EGO TRUST? An alter-ego trust is when all the necessary requirements for a valid trust are present and the trust is established, but the trustees act as puppets, mainly under the instruction of the creator or another trustee.  It is also present when the trust property is treated by the creator or [...]

Molenaar & Griffiths Incorporated is pleased to announce that going forward it will conduct business as Stroebel Singh Theunissen Incorporated – to be known as SST Incorporated. The firm now boasts a completely new and contemporary brand that reflects its values and business ethos more cohesively. This rebrand follows right on the [...]

In tough economic times landlords and tenants may be faced with the difficult decision of having to terminate a lease agreement prior to the expiry of the lease period. The right to cancel a lease agreement is primarily regulated by the agreement between the landlord and the tenant, whether this agreement is recorded in writing [...]

Article 3 of 3 in a series on financially distressed companies. In order to fully comprehend directors’ liability, it is important to consider Section 76 of the Act, which setsout the duties of directors when conducting business. Section 76 addresses the standards of directors’ conduct and extends the common law fiduciary duties, which require directors [...]

In our current global society it is now common for South African residents to acquire assets in other counties, which could include investment properties, shares or other investment products. Dealing with these offshore assets by an executor of a deceased estate could be a complex, frustrating and expensive process if the deceased individual did [...]

Very often the lines between an independent contractor and an employee are blurred, meaning employers believe that they have entered into a contract with an individual service provider (“SP”) as an independent contractor, yet the SP after weeks of rendering the service may come to believe that he/she is an employee. Simply put, if [...]

When you pass away without a signed will and testament, you are said to have died “intestate”.  What that means is that the Intestate Succession Act 81 of 1987 (“the Act”) applies on your estate and will determine how your estate will be distributed.   WHAT ARE THE GENERAL PRINCIPLES THAT APPLY IF I DIE [...]