by Matodzi Ratshimbilani In the face of widespread malfeasance, barefaced disregard of the law governing both private and state-owned companies, the debate on the role and liabilities of directors has dominated public discourse in the recent past. The focus on the role of directors is justified...
The Supreme Court of Appeal of South Africa (the “SCA”) recently made a ruling in Raubex Construction v Bryte Insurance Company. Raubex Construction (the “Appellant”) was a beneficiary of a retention money guarantee (the “Guarantee”) issued by Bryte Insurance Company (the “Respondent”) pursuant to the terms...
The recent flood of reaction pursuing the judgement in favour of Lerato Sengadi, when she sought to be recognised as the rightful wife of Jabulani “HHP” Tsambo in terms of customary law, is proof of the uncertainty which still exists in understanding the effects of...
by Matodzi Ratshimbilani As KPMG recycles faces to lead this once reputable audit firm and issues endless apologies for its role in the state capture project, another big five audit firm, Deloitte, has to defend itself as some of its partners appear before its professional watchdog,...
The feasibility phase of a public private partnership (“PPP”) is arguably the most important phase. In terms of regulation 16.4.1 of Treasury Regulation 16 to the Public Finance Management Act, 1999 (“TR16”), a feasibility study must be undertaken by the accounting officer or accounting authority...
by Matodzi Ratshimbilani The testimony of the former minister of public enterprises Barbara Hogan before the Zondo commission on state capture has highlighted long standing incongruity that beset the directors of state-owned companies (SOEs). Hogan testified how former president Jacob Zuma sought to influence the decisions of...
by Peter Tshisevhe One of the key reforms to company law in South Africa that the Companies Act, No. 71 of 2008 (the “Act”) introduced include, inter alia, the codification of directors’ duties. The rationale behind the codification of directors’ duties was mainly to make the...
by Matodzi Ratshimbilani The world over the concept of sophisticated investors is acknowledged in different forms. By way of example, in the United Kingdom sophisticated investors include retail clients, professional clients and eligible counterparties. The crux of this categorisation of investors is that there are certain investors...
by Matodzi Ratshimbilani On 29 and 30 August 2018, the California Legislative Assembly and the United States (US) Senate respectively, passed a bill to amend the States Corporations Code, the equivalent of our Companies Act prescribing minimum female director representation in the boards of all companies...
Being a female in the legal profession, in particular, being a litigator requires a lot of passion for the law. It requires perseverance and a lot of initiative. I realised very early on in my career that in order to succeed in this profession I would...