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Directors – When Are They Personally Liable?

Directors – When Are They Personally Liable?

by Wessels + Van Zyl Inc | Jul 26, 2022 | Company / Corporate / Compliance, Debt Recovery, Uncategorized

“… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly, grossly negligently or fraudulently. If they do, they risk being made personally liable.” (Quoted in the...
The Trouble with Family Loans: A R540,000 Lesson

The Trouble with Family Loans: A R540,000 Lesson

by Wessels + Van Zyl Inc | Jul 26, 2022 | Credit Law, Debt Recovery, Uncategorized

“How sharper than a serpent’s tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” – that’s been part of human culture since long before the dawn of history but be sure to observe all legal formalities. A recent High...
Debtor Not Paying? Consider a Liquidation Application

Debtor Not Paying? Consider a Liquidation Application

by Wessels + Van Zyl Inc | Feb 23, 2022 | Debt Recovery, Insolvency / Liquidation

“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt is a major issue for many businesses in these hard economic times – not taking robust steps to collect it could...
Bodies Corporate: Before You Sequestrate to Recover Arrears…

Bodies Corporate: Before You Sequestrate to Recover Arrears…

by Wessels + Van Zyl Inc | Jun 28, 2021 | Debt Recovery, Insolvency / Liquidation, Property

“Bankruptcy – a fate worse than debt” (Anon) One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and to take robust action to recover any arrears. As with any other creditor/debtor relationship however, trying to...

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Recent Posts

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  • Directors – When Are They Personally Liable?
  • The Trouble with Family Loans: A R540,000 Lesson
  • Fired for Off-Duty CBD Oil Use and Cannabis Smoking
  • Website of the Month: Solar Power and the Insurance Risk

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