No creditor likes having to deal with a defaulting debtor. Matters become even more interesting when said debtor goes into business rescue. In such instances the creditor’s avenues of recourse become rather limited by the Companies Act – because a creditor is unable to sue its debtor while their debtor is in business rescue. What’s…
“I have fought against white domination, and I have fought against black domination. I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is…
Are restraints of trade legal? Can they be enforced? Should I be worried about signing a restraint? Or is it true that a restraint of trade isn’t worth the paper it’s written on? The short answer is: restraints of trade are indeed legal. Restraints are a common employment requirement and form an integral part of…
A common dilemma facing employers is how to address the issue of a paying a bonus or thirteenth cheque. The best solution is to address this matter head-on, in the form of your employment contracts and related company employment documents. When you draft your employee bonus procedures, you may want to consider some of these…
There’s nothing like a competition to raise the spirits. As they say, you’re not in it until you’re in it. But when you are in it, that’s when things start happening. The palms go clammy, the anxious knots eat at your stomach, and your nerves are all a-jitter. Your head computes that your chances of…
A brainwave hits you while you’re out one evening with a group of friends, and your idea just pops out your mouth while you’re sipping your second G&T. As it happens, your friends think you’re a genius for coming up with such an innovative concept, and the next thing you know you’re all going into…
“A small debt produces a debtor; a large one, an enemy.” (Publilius Syrus) And in both instances, debts can also produce interest. But at what rate? This is the dilemma that many creditors encounter when faced with a recalcitrant debtor. When thinking of debt and interest rates, most people tend to think of their…
If you’re a social media user then by now you’ve probably come across people going nuts over the coconut war that’s taken over Facebook. Briefly, the story is as follows: It seems a woman named Jenna started a business called Coconut Connection, trading the enterprise as a sole proprietor. Over a few years she builds…
There’s one word that strikes fear in the hearts of business owners: Suretyship. It’s guaranteed to send them fleeing for the hills. Many businessmen and women have suffered untold abuse at the hands of creditors who have manipulated them using suretyships and guarantees. On the other hand, there’s many a creditor berating themselves for failing…
It all seemed like a good idea at the time. Sitting around the table at the monthly management meeting, someone moans about how boring the company’s marketing has become. There’s no spark, no excitement! This triggers an avalanche of ideas culminating in a plan so deviously simple that everyone marvels that they haven’t tried it…
