UIF and the Land & Agricultural Development Bank of SA
UIF and the Land & Agricultural Development Bank of SA
Cliffe Dekker Hofmeyr represented Unemployment Insurance Fund (UIF), a fund provided by the South African Government for short term unemployment; and Land Bank, the specialist agricultural bank guided by a Government mandate to provide financial services to the commercial farming sector and to agri-business.
Our Real Estate team advised these clients in the registration of various mortgage bonds and notarial general and special bonds. This mandate confirms the big-ticket nature of many of the real estate mandates handled by our experienced team as well as the trust placed in our team by public sector entities active in the real estate sector in South Africa.
You might also be interested in
8 Oct 2024
by Eugene Bester and Serisha Hariram
Appealability of a High Court order
In the recent case of MEC for Economic Development, Gauteng and Another v Sibongile Vilakazi and Others (783/2023) ZASCA 126, the issue of appealability of a High Court order wasdebated.
Dispute Resolution
5 min read
11 Dec 2024
by Puleng Mothabeng
Celebrating the unwavering efforts of the Office of the Tax Ombud amidst the shifting economic landscape and its impact on taxpayers
Puleng Mothabeng, Associate in the Tax & Exchange Control practice, was recently featured in Issue 35 of the Fair Play Stakeholder Newsletter by the Office of the Tax Ombud (OTO), where she explored ' Celebrating the unwavering efforts of the Office of the Tax Ombud amidst the shifting economic landscape and its impact on taxpayers.'
Tax & Exchange Control
1 min read
1 Nov 2024
by Megan Rodgers, Amore Carstens, James Ross, Dean Tennant and Elham Shaik
Legislation on the move: The President signs the Upstream Petroleum Resources Development Act
The Upstream Petroleum Resources Development Bill (now the Upstream Petroleum Resources Development Act. 23 of 2024) (Act) was finally assented to by the President on 25 October 2024 and published in the Government Gazette on 29 October 2024.
Oil & Gas
9 min read
4 Oct 2024
by Jaco Meyer
Reflections on the 2024 Joburg Indaba
The 2024 Joburg Indaba (Indaba) can be aptly summarised in the words of Rafiki from The Lion King: “ Oh yes, the past can hurt. But the way I see it, you can either run from it, or learn from it.”
Mining & Minerals
7 min read
30 Oct 2024
by Kate Anderson and Keagan Hyslop
50/50 shareholders and oppressive conduct: When some shareholders are more equal than others
A fundamental principle of South African company law is “ majority rules ” – shareholders and directors are bound by the decisions of the majority even where such decisions are not in their interest. However, recognising the potential for unfair abuse of such a principle, the Companies Act 71 of 2008 (Companies Act) devised section 163, which allows a director or shareholder of a company to apply to court for relief from oppressive conduct of the company or a person related to it that unfairly disregards or prejudices the interests of the applicant. Section 163 therefore paints the picture of a majority shareholder abusing its ability to control the company to unfairly bully or oppress minority shareholders. But what happens if the shareholders are equals – can a 50/50 shareholder be oppressed by their equal? This was the question before the High Court in Van der Watt v Schoeman and Others 91 SA 531 (ECGq).
Corporate & Commercial Law
4 min read
28 Feb 2024
by Vincent Manko and Nomlayo Mabhena-Mlilo
The interplay between set-off and post-liquidation debt
Can a creditor that has realised its security in terms of section 83(3) of the Insolvency Act, 1936 claim set-off of a post-liquidation debt owed to it by an insolvent estate or company in liquidation against the amount of the proceeds of the realisation of the secured property that it is obliged to pay to the liquidator in terms of section 83(10) of the Insolvency Act? The High Court indicated that the answer is “ No ” and, inter alia , ordered the creditor to pay the amount of the net proceeds of the realised security to the joint liquidators. The interplay between set-off and post-liquidation debt was therefore considered by the Supreme Court of Appeal in Emontic Investments (Pty) Ltd v Bothomley NO and Others (1123/2022) ZASCA 1 (9 January 2024).
Corporate Debt, Turnaround & Restructuring
5 min read