This article originally appeared on Bentley Attorneys website :
The new Companies Act is due to be introduced on the 1st April 2011, its introduction having been delayed because of the Act having had the dubious honour of being the first piece of legislation that the writer knows of that had to be amended after it had been passed but before it come into operation.
The reality is that we have to practically deal with piece of law and the 1st April 2011 is not an April fool’s day joke but has …

An article that originally appeared on the  Bentley Credit Control website:
In a previous article we pointed creditors to the potential problems with not knowing who you are doing business with.
Let’s say a debtor advises you that their business is Bob’s Suppliers.
It could be:

Bob’s Suppliers C.C. (a close corporation)
Bob’s Suppliers (Pty) Ltd (a private company)
Bob’s Suppliers Ltd (a public company)
Bob Naidoo trading as Bob’s Suppliers (a sole proprietor)
Bob Naidoo and Dan Jones trading as Bob’s Suppliers (partnership)
Bob Naidoo Investment Trust trading as Bob’s Suppliers (a trading trust

If this wasn’t bad enough, …

Adri van Zyl reports on Fin24.com:
“South Africa has not yet shaken off the weight of the consumer-led recession.
At 78%, the ratio of debt to disposable income is still far too high for that.
In addition, it looks as if many consumers deliberately built up further debt in the Christmas period with a view to now applying for debt counselling.
Excessive debt can also have serious implication for the economy.
The current debt position of many South Africans has also raised concern about the brake that this could place on economic growth.”
Read the Full …

“The more corrupt the state, the more it legislates.”
– Tacitus

Business Report article:
The outlook for liquidations and insolvencies has improved compared to earlier in the year, although risks to the upside still exist, if the economy slowed from the current growth trajectory, according to Investec economist Kgotso Radira.
The sharper fall in insolvencies than liquidations (nine months to September) is encouraging, as it shows that while there are still companies forced to close down, those struggling with debt are diminishing, he says.
He adds: “This week’s data releases for inflation and unemployment data could prove crucial for the November MPC meeting. If …