Shareholders in a private company are not normally liable for the debts of the company, but there are instances where they may be, upon deregistration or liquidation of the company. Deregistration In terms of section 82 of the Companies Act No. 71 of 2008 (“the Companies Act”), the grounds for deregistration of a company by …
Shareholder liability for debts of a company by Alden Klaasen Read More »
Is registration as a credit provider under the National Credit Act 34 of 2005 (“the NCA”) required for a once-off credit agreement? This was the issue in the case of Du Bruyn NO & others v Karsten (929/2017) [2018] ZASCA 143 (28 September 2018). Mr. De Bruyn and Mr. Karsten conducted business together as shareholders in two …
A twice-married and twice-divorced couple were involved in a dispute over immovable property with a creditor of the husband, in Fischer v Ubomi Ushishi Trading and Others 2019 (2) SA 117 (SCA), a case decided by the Supreme Court of Appeal earlier this year. Mr and Mrs Haynes, who were married in community of property, …
Immovable property: marriage, divorce and creditors by Bianke Wallendorf Read More »