‘Futureproofing’ Commercial Properties in Times of Uncertainty
The current geopolitical tension is drastically reshaping the global economic outlook, and South Africa is not immune. Both businesses and consumers are feeling the effects of the conflict escalation in the Middle East, with oil prices spiking to above $110 a barrel. The commercial property market faces a more complex operating environment. Rising energy costs […]
Arbitration Clauses in Commercial Contracts: Enforceable or a Trap?
When two businesses sign a contract, they rarely think about what happens if things go wrong. Buried in the boilerplate, an arbitration clause can quietly redirect any future dispute away from the courts and into a private process governed by a different set of rules. Sometimes that works in both parties’ favour. Sometimes it does […]
When can the Sheriff of the Court come knocking?
Have you ever heard about the Sheriff of the Court coming to collect your assets and auctioning it off in order to cover your unpaid debt? Is it legal and what are the procedures that must be followed in order for the Sheriff to obtain authorisation to attach your property? Is this even possible if you have not yet appeared in court? In […]
Is business interruption insurance the key?
A business interruption insurance policy typically caters for a decrease in turnover or profit (depending on the type of cover); an increase in operating expenses and a move to a temporary location (if necessary). The question arises whether or not COVID-19 qualifies as an insured event which could lead to a valid and enforceable insurance […]
Understanding the debt review process
In these difficult economic circumstances, you may find yourself in a position where you are unable to pay your debt. The National Credit Act makes provision for debt management in the form of debt review by making an application to the court to restructure the payment schemes of all your creditors. It may be a […]
Business Rescue VS Liquidation: What is The Difference?
South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium business enterprises. Many of these struggling enterprises are now at a crossroads: do they continue […]