Ways in which businesses can approach the uncertainty of different majorities required in order to amend a business rescue plan (‘BRP), or to adjourn a meeting concerning a BRP:

Ways in which businesses can approach the uncertainty of different majorities required in order to amend a business rescue plan (‘BRP), or to adjourn a meeting concerning a BRP:

Section 151 of the Companies Act 71 of 2008 requires a business rescue practitioner to convene and preside over a meeting of creditors within 10 days after publication of the proposed BRP – in order to adequately consider the BRP. However, the Companies Act then...
A Reflection on Conflict of Interest and Misappropriation of Corporate Opportunity under Modern Company Law in South Africa

A Reflection on Conflict of Interest and Misappropriation of Corporate Opportunity under Modern Company Law in South Africa

According to South African company law, a director has a fiduciary duty to act in good faith and the best interests of the company. Several other duties flow from this duty, such as the duty to avoid a conflict of interests. The duty of a director not to appropriate a...