Compromise is a process whereby provisions are made for the restructuring of the company’s affairs without the appointment of a Practitioner, whether it is financially distressed or not. This contrasts with business rescue which is implemented when the company is financially distressed.
The procedure of sequestration can be expensive and should only be followed if cost effective to do so. One needs comprehensive legal guidance and assistance to weigh options available.
The dissolution of marriage is one of the biggest decisions one can make in their lives. Due to the sometimes-grave consequences, divorce is one that the Courts do not take lightly and will only order upon evidence that a normal marriage relationship cannot be restored.
Stakeholders such as the High Court and Notaries also have a role to play in the legalisation process. This article discusses the role played by the Department of International Relations and Cooperation.
It stands to that premise therefore, that parties feel the urge to retain the matrimonial house after a divorce process. In these disagreements with regards to the house, the Courts simply apply the legal rules much to the disappointment or relief of either party.
The primary purpose of having a valid will is so that the testator can have the benefit of prescribing the division of his assets to only the beneficiaries he/she desires. In this way, having the assets of the deceased in the wrong hands after his/her death is avoided.
The sale of the assets is one of the most prominent ways of distributing assets. However such sale needs to be at market value, which can be achieved by getting two different valuations and declaring the average. However, the sale of assets such as property and company shares will invite Transfer Duty and Capital Gains Tax.
Most of us have seen the word Notary written on the billboards at some attorneys’ offices, but not all. This is because not all attorneys have the designation of Notary Public. It is an office endowed with an increased measure of trust.
The prevalence of single parent headed families is rampant in South Africa and in most cases the absent parent contributes little or nothing towards the upkeep of the child.
The Women’s Legal Centre had in 2009, brought a petition to the Constitutional Court for direct access in terms of Section 167 of the Constitution, seeking relief from the Court to direct the state to recognize marriages concluded under Muslim law.
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