By Brandon Cole On 2 October 2024, the Constitutional Court handed down a significant judgment addressing a just and equitable remedy under Section 172(1)(b) of the Constitution. The case exemplifies a broader phenomenon in which organs of state, including the applicant in this matter, the Greater Tzaneen Municipality, attempt to rely on their own unlawful … Continue reading Pointing fingers at myself: Why an organ of state should not rely on its own unlawful conduct to avoid compensating innocent contracting parties
Don’t Jump the Gun: Substantial Implementation Notices in Business Rescue Proceedings
By Brandon Cole In a recent decision handed down by the High Court of South Africa, Western Cape Division, Cape Town, on 16 August 2024, the court granted an interdict preventing the business rescue practitioner of Cambridge Services (Pty) Ltd from filing a notice of substantial implementation of the published and approved business rescue plan … Continue reading Don’t Jump the Gun: Substantial Implementation Notices in Business Rescue Proceedings
A Reverse Goldmine: Glencore’s Troubled Congo Relationship Partners Yield Swiss Fines for Mining Giant
By Stephany Torres Swiss prosecutors have concluded a four-year investigation into the mining giant Glencore, resulting in a CHF 2 million (USD 2.3 million) fine and a USD 150 million compensation bill for the company. Notably, this Swiss enforcement action stems from a bribery scandal in the Democratic Republic of Congo (DRC), dating back to … Continue reading A Reverse Goldmine: Glencore’s Troubled Congo Relationship Partners Yield Swiss Fines for Mining Giant
Understanding Draft PCC 121A: A New Chapter in Beneficial Ownership.
By Brandon Cole Introduction On 14 June 2024, the South African Financial Intelligence Centre (FIC) issued draft public compliance communication 121A (PCC 121A) for a second round of consultation. This draft aims to provide comprehensive guidance on the definition of beneficial ownership and the practical application of section 21B of the Financial Intelligence Centre Act, … Continue reading Understanding Draft PCC 121A: A New Chapter in Beneficial Ownership.
Who is a ‘Creditor’? Post-Commencement Creditors’ Voting Rights Under Section 152 of the Companies Act
By Brandon Cole In the pivotal judgment of Wescoal Mining (Pty) Ltd v Mkhombo N.O and Others,[1] the Johannesburg High Court has taken a significant stance on the rights of post-commencement creditors in business rescue proceedings, particularly concerning their ability to vote on a business rescue plan as outlined in Section 152 of the Companies … Continue reading Who is a ‘Creditor’? Post-Commencement Creditors’ Voting Rights Under Section 152 of the Companies Act
The Section 218(2) Conundrum? Navigating Director Liability with Insights from Venator Africa (Pty) Ltd v Watts and Another
By Brandon Cole In a recent judgment by the Supreme Court of Appeal of South Africa (“SCA”) on 24 April 2024, the case of Venator Africa (Pty) Ltd v Watts and Another[1] (“Venator Africa) has clarified and redefined earlier interpretations of section 218(2) of the Companies Act 71 of 2008 (“the Act”). Section 218(2) reads … Continue reading The Section 218(2) Conundrum? Navigating Director Liability with Insights from Venator Africa (Pty) Ltd v Watts and Another
Kenyan attorney team present panel on data privacy & avoiding fraud in real estate deals
Charting the Future: Data Privacy, Technology, and Compliance in Real Estate In an era where data and technology are revolutionizing nearly every facet of our lives, the real estate sector is not exempt from this transformative wave. Primerio Kenya partners, FMC Advocates LLP, recent held a collaborative webinar with the Kenya Property Developers Association (KPDA) … Continue reading Kenyan attorney team present panel on data privacy & avoiding fraud in real estate deals
Corruption’s Long Tentacles: Egypt meets New Jersey in Certification-Monopoly Bribery Scheme
By AAF Staff The federal corruption indictment of New Jersey Senator Bob Menendez today came as a shock to many, but perhaps should not have been wholly unexpected: after all, Sen. Menendez had been indicted and tried before for similar 'influence-peddling' wrongdoing (regarding a criminal Florida doctor), in a case that ended up with a … Continue reading Corruption’s Long Tentacles: Egypt meets New Jersey in Certification-Monopoly Bribery Scheme
Who Owns What? Mandatory publication of companies’ beneficial owners in RSA
The CIPC's new beneficial owner registry: An effective mechanism to combat illicit flow of funds or another wasted opportunity? By Jemma Muller and Nicola Taljaard, Primerio On 1 March 2023, the South African Companies and Intellectual Property Commission (“CIPC”) announced its plan to establish a register of beneficial ownership (“BO”), which would be implemented upon … Continue reading Who Owns What? Mandatory publication of companies’ beneficial owners in RSA
Greyed-Out by FATF: South Africa officially placed on the grey-list; where to from here?
By Jemma Muller and Tyla Lee Coertzen Despite the noteworthy progress South Africa has made in response to the deficiencies identified in the Financial Action Task Force’s (“FATF”) Mutual Evaluation Report released in June 2021, the FATF placed South Africa on the ‘grey-list’ on 24 February 2023. In order to understand the consequences of being … Continue reading Greyed-Out by FATF: South Africa officially placed on the grey-list; where to from here?
Anti-Fraud & Corruption Law in Africa 