Directors at War and the Liquidation Option - A Tale of Sibling Rivalry

"Family quarrels are bitter things. They don't go according to any rules" (F. Scott Fitzgerald)

A company's directors have both the power and the duty to manage the company's affairs for its benefit.

When two or more directors are in place, it's perhaps natural for the occasional disagreement to arise between them. Indeed, regular expression of a variety of different viewpoints and ideas can make for a strong, dynamic board and business. Provided, that is, that the directors are in the end result still able to agree on the decisions vital to their company's continued operations.

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Equal Pay for Equal Work - Can You Differentiate Without Unfairly Discriminating?

"Prohibition of unfair discrimination: No person may unfairly discriminate, directly or indirectly, against an employee, in any employment policy or practice, on one or more grounds, including race, gender, sex, pregnancy, marital status, family responsibility, ethnic or social origin, colour, sexual orientation, age, disability, religion, HIV status, conscience, belief, political opinion, culture, language, birth or on any other arbitrary ground" (from the Employment Equity Act)

Our employment laws and labour courts come down heavily on any unfair discrimination in the workplace, but it's not always easy to decide whether "differentiation" between employees is or is not "unfair discrimination".

Take for instance a recent Labour Court case where a black female employee complained to the CCMA (Commission for Conciliation, Mediation and Arbitration) about the higher salary paid to her white male colleague.

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Tax Freedom Day 2019 Has Arrived!

"Untold Wealth: That which does not appear on income tax returns" (Anonymous)
 
"Tax Freedom Day" is the first day of the year that we South Africans (as a whole) have earned enough to pay off the Tax Man and to finally start working for ourselves.
 
It arrived this year on 18 May. That's five days later than in 2018, and a whole 37 days later than in 1994 when we first started measuring this - not a happy trend, nor unfortunately one likely to be reversed in future.
 
But it could be worse. Taxpayers in a lot of other countries are still working for government - Norwegians for example only celebrate on 29 July!

Business Rescue: Are Your Suretyships Enforceable? A R5.5m Lesson for Directors and Creditors

"Some people use one-half their ingenuity to get into debt, and the other half to avoid paying it" (George Prentice, newspaper editor and author)

 

You are owed a lot of money by a company that goes into business rescue. The business rescue plan provides for creditors like you to accept a dividend of only a few cents in the Rand in settlement of your debt. You stand to lose heavily.

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Security Estates: Can You Fine Speedsters?

"When the [property owners] chose to purchase property within the estate and become members of the Association, they agreed to be bound by its rules" (extract from judgment below)

 

There are many advantages to buying in a security estate or other community scheme, including quality of life and increased potential for growth in your property's value.

As a buyer just be aware that you will almost certainly be binding yourself to a set of rules and regulations imposed by the Homeowners Association (HOA) or Sectional Title Body Corporate. Check that you are happy with them before you sign anything! Our courts have regularly confirmed the general principle that you are bound by what you agree to, and a recent high-profile Supreme Court of Appeal (SCA) decision provides an interesting example.

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