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• Realisation of security in terms of section 83 It would appear that, owing to malpractices which have been knowingly been permitted by certain Insolvency Practitioners over many years, a general perception developed amongst certain secured creditors, especially financial institutions who finance movable assets in the nature of motor vehicles etc., that they may deal with “their” assets in whichever way they deem fit. more

• The Future of the Liquidation Industry [02/06]
  The process of appointing liquidators has for many years been based on the votes of creditors in particular matters. This has changed now. More
   

• Insolvency Enquiries and Impeachable Transactions [03/2004]
  Every year thousands of creditors suffer severe losses resulting from the liquidation or sequestration of debtors. Concurrent creditors, being those without security for their claims and who do not enjoy a statutory preference, usually have to “cut their losses and get on with life”, because of the fact that there is no or little free residue left in the insolvent estate to satisfy their claims. They also run the risk of being liable for a contribution towards the costs of sequestration /liquidation should they prove their claims and there are found to be insufficient funds to pay for the costs of administering the insolvent estate. More

• Business Rescue - A Different Perspective [02/2004]
  There appears to be a widespread perception  that South African liquidators are intent on 'liquidating and moving on' without regard whatsoever for the possibility of restructuring and rescuing a business.  The allegations about the ”liquidation industry” have resulted in proposals being submitted  for turnaround experts to be identified and appointed in order to cultivate a new culture of business rescue in South Africa.

It might surprise many of the parties who are so actively canvassing for the rescue of business that the necessary tools to implement rescue procedures already exist in our Law. There are, however, very sound reasons why such tools have not succeeded in bringing about a culture of business rescue in South Africa. More

• Directors Beware! [09/2003]
  As Directors of companies are responsible for the management of such Companies, they should know exactly what legal duties and obligations the Law imposes on them. If they don’t, as will be seen hereinafter, they not only run the risk of personal liability, but also the risk of criminal liability. More