We picked up the following short comment on World Credit Management, Collections and Risk Forum on Linkedin.com by Abe Walking Bear Sanchez, the President of  American company A/R Management Group, Inc., a consulting and training company specializing in credit and collections as a profit center.
“Forget the traditional organization chart with branches that in turn branch off and so on. Instead of organizational charts think of totem poles…the carved columns erected by the Native Americans of the Pacific Coast. Totem poles are representations of men and animals and of their relationship.
Now forget about corporate …

In a National Credit Regulator press release:
‘In a further boost for consumer rights, the Free State High Court has ruled in favour of the National Credit Regulator (NCR) in its case against Brusson Finance (Pty) Ltd, a company which used the so-called “reverse mortgage“ system of money lending which resulted in a number of consumers loosing their homes.
The NCR instituted proceedings in the Free State High Court, together with two borrowers, Mr and Ms Ditshego, who had lost their home to the scheme, against Brusson.
This was as a result of receiving various complaints from …

Stats SA released the Company and Close Corporation liquidation statistics up to the end of June 2010. The continuing upward trend in liquidations is illustrated by the graph above.
The total number of liquidations recorded for the first six months of 2010 increased by 5,8% (from 1 951 to 2 065) compared with the first six months of 2009. The total number of liquidations recorded for June 2010 increased by 21,9% (from 311 to 379) compared with June 2009 .
This 5,8% increase in the total number of liquidations for the first six months …

Business Day reports that an amended version of the new Companies Act , which had been botched by the Department of Trade and Industry was published on the 28th July 2010.
Sanchia Temkin for Business Day:
“…..(the DTI) released the latest copy of the amended Companies Act, which has addressed significant grammatical errors and concerns about flaws in the legislation.
However, company law experts said yesterday that the Companies Act of 2008 had been “commercially flawed” and a “source of embarrassment” to start with.
“A series of grammatical errors and typos was used …

Both the Companies Act and the Close Corporation Act have provisions in them allowing CIPRO to deregister corporate entities that have not lodged annual returns with the Registrar (Section 73 of the Companies Act and Section 26 of the Close Corporations Act).
CIPRO earlier in the year started to invoke the provisions of these Sections and hundreds of thousands of corporate entities were reclassified with the status “deregistration in progress”, for not having lodged the relevant returns.
In the last couple of days, what was thought to be a CIPRO threat for …