directors

insolvency Practice postponement Evidence Company Law Negligence Interpretation Disputes of fact contract Unjust_enrichment Application RAF Parol Evidence liability discovery Urgency Review directors Delict

InterpretationInterpretation

+2+2

May 28, 2024

Weissensee v Stone-Bird Investments (PTY) Ltd and Others (2020/19821) [2022] ZAGPJHC 817; [2022] 4 All SA 905 (GJ) (17 October 2022)

An agreement entered into by a financial services provider that is not licensed under the Financial Advisory and Intermediary Services Act (FAIS Act) is void ab initio due to non-compliance with statutory licensing requirements. Consequently, any such agreement is unenforceable.

Ross Shepstone

PracticePractice

+1+1

May 22, 2024

Twentieth Century Fox Film Corporation and Others v Playboy Films (Pty) Ltd and Another 1978 (3) SA 202 (W)

A director who, with knowledge of a court order against the company, causes the company to disobey the order is guilty of contempt of court.

Ross Shepstone

directorsdirectors

Feb 28, 2024

Van Zyl NO and Another v Currin and Others (15047_2018) [2018] ZAWCHC 189 (15 October 2018)

Personal liability of directors: If a company continues to carry on business and to incur debts when, in the opinion of reasonable businessmen, standing in the shoes of the directors, there would be no reasonable prospect of the creditors receiving payment when due, it will in general be a proper inference that the business is being carried on recklessly.

Ross Shepstone