Our team represented a leading US-based global professional services network
Our team represented a leading US-based global professional services network
We represented a leading US-based global professional services network in a cluster of related actions where so-called investors, who had invested their monies in a Ponzi scheme, sought an indemnity from our client should they not recover their money from the fraudster's estate.
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27 Feb 2025
Does providing security to a lender amount to a disposal in terms of section 112 of the Companies Act?
In terms of section 112 of the Companies Act No. 71 of 2008 (Companies Act), the disposal of the whole or a greater part of a company’s assets or undertaking must be approved by a special resolution of that company’s shareholders. A question that arises in secured lending transactions is whether or not the enforcement of security provided as part of a funding transaction constitutes a disposal as contemplated in section 112 of the Companies Act.
Banking, Finance & Projects
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11 Oct 2024
by Imraan Mahomed, Taryn York and Leila Moosa
Webinar Recording | Immigration Compliance and Workplace Enforcement
Watch our panel of experts as they discuss the intersection of immigration law, employment practices, and criminal liability for businesses.
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17 Jan 2025
by Alex Kanyi and Denis Maina
Recent amendments to Kenya’s tax laws: Implications and impact
Kenya is entering a new chapter in its tax landscape, with significant reforms introduced through the Tax Laws (Amendment) Act, 2024 (Act), and the Tax Procedures (Amendment) (No. 2) Act, 2024. These two pieces of legislation, which came into force on 27 December 2024, bring major changes to laws that touch all of us – whether we’re salaried employees, business owners or everyday consumers.
Tax & Exchange Control
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3 Apr 2025
by Brian Muchiri and Nicole Gacheche
Kenya’s rising bad loans: A closer look
The Kenyan banking sector is currently facing a significant challenge due to a sharp increase in non-performing loans (NPLs). In simple terms, a loan becomes non-performing when a borrower fails to make scheduled loan payments, either of principal or interest, for 90 days or more. This trend is worrying because, according to the Central Bank of Kenya (CBK), by December 2024, these bad loans accounted for 16,4% of all loans issued by banks – the highest level recorded in the past decade. The agricultural sector has been hardest hit, with 20% of loans turning bad, followed closely by the real estate sector at 18%.
Banking, Finance & Projects
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6 Nov 2024
by Yaniv Kleitman, Marelise van der Westhuizen and Roxanne Bain
Making sense of beneficial ownership thresholds: The FIC Act versus the Companies Act
Both the Financial Intelligence Centre Act 38 of 2001 (FIC Act) and the Companies Act 71 of 2008 (Companies Act) create legal regimes relating to the uncovering of beneficial ownership of an entity. The former requires accountable institutions (as defined) to verify the beneficial owners of their clients, and the latter requires certain types of companies (namely, non-affected companies 1 ) to keep record of and disclose their beneficial owners to the Companies and Intellectual Property Commission (CIPC).
Corporate & Commercial Law
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21 Jan 2025
by Veronica Connolly and Luke Kleinsmidt
Opt in or out: Unilateral option clauses in international arbitration
The 2024 edition of the Clifford Chance Unilateral Option Clauses Survey considers the validity of unilateral option clauses in 120 jurisdictions around the world, including 28 countries in Africa. The full survey, including CDH’s contribution for South Africa, is available here .
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