Forcing a Sale of Shares in a Company: the Deemed Offer Clause

Forcing a Sale of Shares in a Company: the Deemed Offer Clause

Once a person owns shares in a company it is very difficult under law to force them to sell their shares to either the other shareholders or the company. The main way to force someone to sell their shares is by recording the terms for when this would arise in...
Which Shareholders Can Elect And Remove Directors In A Private Company?

Which Shareholders Can Elect And Remove Directors In A Private Company?

It is often important for shareholders of private companies to either be on the board of directors themselves, or to have someone sit on the board who they trust. So let’s look at who gets to choose who the directors are, and who has the power to remove them from...
Directors’ Personal Liability during the COVID-19 Pandemic

Directors’ Personal Liability during the COVID-19 Pandemic

The Companies Act: Section 22(1) of the Companies Act 71 of 2008 (“the Act”) read together with sections 218(2) and 77, set the stage for directors of a company being held personally liable for the company’s debts. Prohibition of Reckless Trading: section 22(1)...
The Importance of a Professional Executor

The Importance of a Professional Executor

When drafting your Last Will, it is recommended that you select and nominate a professional executor to wind up your estate for the following reasons: A professional executor is experienced with the different procedures associated with administering different types of...
Living Wills

Living Wills

A living will is an advance written instruction in which you can express your consent or refusal to any medical treatment should you be unable to do so at a future date. Should you be unable to speak for yourself, a Living Will can assist your family and medical...