WEBINAR | Navigating Business Rescue, Restructuring & Insolvency during COVID-19

Insolvents worldwide beware

In the matter of Raoul Gregor Wagner N.O v Johan Christian Gijsbers N.O and Three Others (20876/19) ZAWCHC 82 (5 June 2024), Mr Wagner (the applicant), in his capacity as the official receiver of Mr Jurgen Scheer’s insolvent estate in Austria, sought relief from the Western Cape High Court for recognition of his appointment as the trustee of Scheer’s Austrian insolvent estate in South Africa in order for him to remove any surplus funds after final distribution of Scheer’s South African insolvent estate from South Africa to Austria, for the benefit of Scheer’s Austrian creditors.

Local and regional trends in the bank, institutional and general debt markets

The banking, finance and projects space is a dynamic environment with market positions and the required legal advisory roles changing continuously. In recent months we have noticed increases in lending margins, a willingness to lend at upstream holding company levels on a basis which results in structural subordination to lenders at subsidiary operating cash flow level and the shift towards alternative lender finance. This article highlights some key aspects of these developments and the options available to both lenders and borrowers.

Navigating FICA compliance with Cliffe Dekker Hofmeyr’s expert regulatory advisory services

At Cliffe Dekker Hofmeyr (CDH), we recognise the importance of navigating the complexities of Financial Intelligence Centre Act 38 of 2001 (FICA) compliance for our clients’ businesses. Our dedicated FICA Advisory Team is committed to providing comprehensive advisory services designed to ensure your business meets the highest standards of FICA compliance, mitigating risks and avoiding penalties.

Webinar recording | Retrenchment law turned on its head

Retirement fund lump sum benefits and severance benefits

The lump sum tax benefits (including severance benefits) due to the termination of employment as a result of reaching the retirement age, sickness, accident, injury, incapacity, redundancy or termination of the employer’s trade has been amended.

Temporary relief: Supreme Court suspends the Court of Appeal’s declaration of the Finance Act, 2023 as unconstitutional

The Supreme Court of Kenya (SC) has, through a ruling issued on 20 August 2024, suspended the Court of Appeal’s (CoA) judgment delivered on 31 July 2024, which had declared the entire Finance Act, 2023 (Act) unconstitutional. Details on the CoA’s decision can be found in our alert here . In this alert, we discuss the key findings of the SC and examine what they mean for Kenya’s tax regime