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SCA judgment has implications for directors, companies, and D&O insurers
The decision confirms that directors are generally not liable to the company’s creditors unless there is an abuse of the corporate structure.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreThe decision confirms that directors are generally not liable to the company’s creditors unless there is an abuse of the corporate structure.
SARS’s discretion to write off temporarily an amount of tax debt while a company is subject to business rescue will be reviewed.
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.