Frequently Asked Questions about liquor licensing
Navigating the complexities of liquor law can be daunting. Whether you’re starting a new business, hosting an event, or expanding your operations, understanding the liquor licensing process is crucial. Below, we answer some of the most common questions we receive about liquor licensing. Who needs a liquor license? Anyone who “sells” liquor in the Western […]
Beneficial Ownership – the do’s and the don’ts
In response to the Financial Action Task Force announcing that South Africa had been added to its grey list of countries with insufficient anti-money laundering and terrorist financing controls, the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 22 of 2022 (“the GLAA”) was enacted in April 2023. The GLAA amended the Companies […]
The prospects of obtaining a substitution order
“It is critical for potential litigants to understand the prospects of successfully obtaining an order of substitution, given that the relief it presents may very well be the strongest incentive for bringing the review in the first instance.” INTRODUCTION You are in a dispute with an administrative body. You are unhappy with a decision that […]
Arbitration via summary procedure – an expeditious path for resolution?
With the estimated time frame for a matter to be brought before a trial Judge in the Western Cape High Court being upwards of three years, parties are unsurprisingly seeking faster alternative dispute mechanisms. In light of its potential to solve disputes more expeditiously than litigation, arbitration has become an increasingly popular alternative. However, arbitration […]
Voluntary liquidation via our courts? Think again.
Amidst the financial turbulence of South Africa’s economy at present, questions often arise for stakeholders of companies in financial difficulty regarding the mechanisms at their disposal to liquidate the company to realise its assets. Often attorneys are approached to assist with the preparation of voluminous voluntary liquidation applications to the courts when a decision is […]
What is a letter in terms of section 345 of the Companies Act 61 of 1973?
A letter in terms of section 345 of the Companies Act 61 of 1973 (“the Act”) demands payment from a juristic debtor and reserves the right to launch a liquidation application against the company if it fails to repay the debt within 3 weeks after it has been served on its registered address. If the […]
Decoding the definition of cryptocurrency in South Africa
The definition of cryptocurrency It’s no secret that cryptocurrency has taken the world by storm, with investors around the globe trying their hand at trading the virtual currencies. One of the biggest barriers to regulating virtual currency became apparent as legislatures and regulators began to deal with the various challenges brought about by its increased […]
The importance of liquidation amid COVID-19
Written by: Nadia Gava COVID-19 has had a devastating impact on South African businesses, leaving many with no option but to liquidate. Liquidation is a last resort for a company struggling to stay afloat and is not a step that should be taken lightly. The purpose of liquidation is essentially to wind up the company […]
Business Rescue in South Africa’s construction industry during the COVID-19 pandemic
Written by: Michael Owen While South Africa’s construction industry showed a glimpse of its full potential during the run-up to the 2010 Soccer World Cup, there has been a shortage of major construction developments ever since. But when South Africa entered its national lockdown on 26 March 2020, it brought our country’s already struggling economy […]
Staying in the Loop
Have you managed to stay in the loop? Long-standing restrictions on “loop” structures have been lifted following the release of Exchange Control Circular No. 1/2021 by the South African Reserve Bank (“SARB”). This regulatory change took effect on 1 January 2021. A loop structure comes into being when a South African tax resident (an individual […]