Company law is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations.
1. Liquidations are governed by the Company’s Act and provide for High Court applications to place companies that are unable to pay their debts into liquidation whereafter a liquidator is appointed to administer the affairs of the company and to wind same up and realize its assets in the best interests of its creditors.
2. Business rescue proceedings are similarly governed by the Company’s Act and are designed to facilitate the rehabilitation of a company that is financially distressed by placing the affairs of the company in the hands of a business rescue practitioner and the creation of a temporary holdover on the rights of claimants against the company and the restructuring of its affairs and business in a manner designed to maximize the likelihood of the company continuing to exist on a solvent and viable basis.
3. The Insolvency Act provides for the sequestration by way of High Court application of individuals who are unable to pay their debts and have committed acts of insolvency and upon sequestration a trustee is appointed to adminster the affairs of the insolvent and to realize the insolvent’s assets in the best interests of creditors.
4. It is a function of liquidators and trustees to ensure that no one creditor is preferred above another.
Includes the criminal acts of fraud, embezzlement, theft of trust funds, corruption, forgery, uttering, money laundering, as well as statutory offences.
Family law (also called matrimonial law or the law of domestic relations) is an area of the law that deals with family matters and domestic relations. While Divorce, also known as dissolution of marriage, is the process of terminating a marriage or marital union.
Commercial agreements are typically a contract written between business entities or agreements regulating the business relationship between persons engaged or involved in business with each other.
Arbitration is a method of resolving the dispute in which a neutral third party is appointed to study the dispute, listen to the parties and then make rulings. On the other hand, litigation is described as a legal process in which the parties resort to the courts for the adjudication and determination of the claims/disputes in issue.
Company law is the body of law governing the rights, relations, and conduct of persons, companies, organizations and businesses. The term refers to the legal practice of law relating to corporations, or to the theory of corporations.
1. Liquidations are governed by the Company’s Act and provide for High Court applications to place companies that are unable to pay their debts into liquidation whereafter a liquidator is appointed to administer the affairs of the company and to wind same up and realize its assets in the best interests of its creditors.
2. Business rescue proceedings are similarly governed by the Company’s Act and are designed to facilitate the rehabilitation of a company that is financially distressed by placing the affairs of the company in the hands of a business rescue practitioner and the creation of a temporary holdover on the rights of claimants against the company and the restructuring of its affairs and business in a manner designed to maximize the likelihood of the company continuing to exist on a solvent and viable basis.
3. The Insolvency Act provides for the sequestration by way of High Court application of individuals who are unable to pay their debts and have committed acts of insolvency and upon sequestration a trustee is appointed to adminster the affairs of the insolvent and to realize the insolvent’s assets in the best interests of creditors.
4. It is a function of liquidators and trustees to ensure that no one creditor is preferred above another.
Includes the criminal acts of fraud, embezzlement, theft of trust funds, corruption, forgery, uttering, money laundering and certain computer-related and cybercrimes, as well as statutory offence.
Family law (also called matrimonial law or the law of domestic relations) is an area of the law that deals with family matters and domestic relations. While Divorce, also known as dissolution of marriage, is the process of terminating a marriage or marital union.
Commercial agreements are typically a contract written between business entities or agreements regulating the business relationship between persons engaged or involved in business with each other.
Arbitration is a method of resolving the dispute in which a neutral third party is appointed to study the dispute, listen to the parties and then make recommendations. On the other hand, litigation is described as a legal process in which the parties resort to the court for the settlement of disputes.