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Debt Prevention Articles

Understanding Dispositions Made In Business Rescue and Liquidation: The Macneil Plastics Case

In a recent ruling by the Pretoria High Court in the case of Macneil Plastics (Pty) Ltd v Van Den Heever No and Others (2024 (1) SA 468 (GP)), clarity was provided on the interplay between liquidation and business rescue proceedings. This case highlights the...
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Navigating Business Rescue and Liquidation: The PFC Properties Case Explained

Unpack the Supreme Court of Appeal’s decision in PFC Properties (Pty) Ltd V Commissioner, SARS, highlighting the critical distinctions between business rescue and liquidation, and the legal ramifications of misusing business rescue procedures under South African law.

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Limpopo High Court Rules on Company Winding-Up

Explore the Limpopo High Court ruling in Rooplal N.O vs. Rezevation 4-2 Communication CC, a critical case on the winding-up of companies due to financial insolvency under South African law. Understand the legal standards for commercial insolvency and its impact on businesses.

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Is a Surety’s Liability Limited to the Initial Credit Agreement? Insights from Actisol 145 CC v Seryt Tyres

Gain critical insights from the Gauteng High Court case, Actisol 145 CC v Seryt Tyres, addressing the extent of a surety’s liability in credit agreements. This pivotal judgment, led by Judge Nkutha-Nkontwana, explores whether a surety’s obligation is confined to the initial credit limit or extends to the actual debt incurred. Uncover the legal intricacies, the court’s decision, and its implications for sureties in business credit facilities

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Is a Surety’s Liability Limited to the Initial Credit Agreement? Insights from Actisol 145 CC v Seryt Tyres

Jan 17, 2024 | , , , , ,

Gain critical insights from the Gauteng High Court case, Actisol 145 CC v Seryt Tyres, addressing the extent of a surety’s liability in credit agreements. This pivotal judgment, led by Judge Nkutha-Nkontwana, explores whether a surety’s obligation is confined to the initial credit limit or extends to the actual debt incurred. Uncover the legal intricacies, the court’s decision, and its implications for sureties in business credit facilities

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Is reckless credit my get out of jail free card?

Is reckless credit my get out of jail free card?

Sep 9, 2020 | ,

In simple terms, credit is considered to be reckless if it is clear from the outset that the Consumer will not be able to afford the repayments, or if no affordability test was done at all.
In our case study (below), the affordability test was indeed done, but it was clear that she would not be able to afford the repayments. It, therefore, seems that the credit was granted recklessly.

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I Have Received A Summons – What Does This Mean?

I Have Received A Summons – What Does This Mean?

Aug 24, 2020 | ,

I Have Received A Summons – What Does This Mean?
Having a Sheriff serve a Summons on you could often be a very scary thing! This is especially true if you know nothing about a Summons and what to do with it. In this article, Kaylee Tree discuss a few important points to remember once you have received a Summons. #Summons #DebtCollection #LetUsHelpYou #StayCalm

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Bad Debt Prevention Case Study

Bad Debt Prevention Case Study

Mar 20, 2020 | ,

 In this case study, we help you get a clearer view of debt prevention and how an attorney can help you minimize your exposure to bad debtors.

I have very recently helped a company that had way too many bad debtors bring the bad debt under control using Vermeulen Attorneys’ innovative and novel methods that we have termed “Debt Prevention”

The company that I assisted was an attorney’s firm, which is quite ironic since attorneys have the skill and know-how to sue their own debtors. Why would bad debts spiral out of control? Simply because, as business owners, we are focussing on doing work for paying clients, not chasing delinquent debtors. Chasing these outstanding debtors not only takes time but for most business owners also means a financial output in attorney fees.

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