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South African matrimonial property regulation recognises three distinct regimes being the marriage in Community of Property, Out of Community of Property with the Accrual system and the Out of Community of Property without the Accrual system.
There is no doubt that the use of the internet and its technology is growing rapidly in even the most remote parts of the world. With benefits of these advances clear for all to see, so are the challenges and risks that comes with it.
The internet space is not the safest of places - if ever it was.
After the reading of a Will, it's often not surprising when there are often issues that arise. Not only because the Will is not clear, but family members often feel that they were not looked after and one got more than the other etc.
Such disputes sometimes end up in Court, where members challenge the Will or its validity at all costs, hoping that should the estate be administered and distributed according to the rules of Intestate Succession, they stand to gain more.
Many people have come across or at least know homes headed by a single parent. Some amongst us were raised in such homes.
While most may believe that the ideal situation would a family home where both parents are present - side by side taking care of the family, there are several life challenges which often result in this not being realised.
When an entity cannot pay the debts they owe as and when they become due, or where their liabilities exceed their assets, such party is considered insolvent in South African law.
In the latter case this effectively means, even if the party were to liquidate all their assets to settle liabilities, it would still not be enough.
Declaration of insolvency status is done by the Courts.
It has taken a lot of regulatory intervention to help contain the effects of the ravaging COVID-19 pandemic, especially in the labour market. This is because at no point in recent times has there been a single phenomenon that has simultaneously crippled economic activity throughout the world. Additionally, what has exacerbated the situation is the virus has affected anyone and everyone; even those who have not been infected have been affected by its negative effects.
Not all people who find themselves having to deal with Trusts understand what it is all about, therefore in this brief discussion we will highlight the prominent issues that one has to familiarise themselves with in order to safeguard their interests when dealing with a Trust.
While in most cases it suffices to refer a party as insolvent where they are unable to pay their liabilities as and when they become due, it becomes necessary at times to distinguish and specify the state of such insolvency especially when it comes to companies. In that case the difference between factual and commercial insolvency becomes an important one.
Liquidation, Business Rescue, or Compromise? This needs to be answered in the clearest of terms to avoid any confusion. While the circumstances that invite any of these procedures are the same, the actual situation determines which option is suitable to be implemented.
There are various reasons why a business may not perform well, and this will likely have an impact on its financial soundness. In this time of the COVID-19 pandemic there are indeed a lot of unprecedented challenges being faced by businesses the world over, necessitating the need to adopt and adapt to the new normal.
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