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Chapter 6 of the South African Companies Act 71 of 2008 reviewed
By Keith Braatvedt | Corporate Rescue and Insolvency August 2010
South African Law has been based on a "creditor friendly approach". Inevitably, in terms of the creditor friendly approach the prospect of corporate rescue thinking does not exist and the emphasis is on liquidation and protection of the rights of creditors....
When is it just and equitable to wind-up companies?
By Keith Braatvedt | De Rebus June 2010
Section 344(h) of the Companies Act 61 of 1973 provides that a company may be wound up by the court if it appears to the court that it is just and equitable to do so. The word "may be wound up" grants to the court discretionary powers to decide whether to wind up irrespective of the grounds for winding up...