Company liquidation laws unfair


Company liquidation laws unfair

Public Protector orders liquidation law reforms – thanks to a dispute between some pretty shady characters.

On 19 December 2018 Public Protector, advocate Busisiwe Mkhwebane released a report which requires changes to the regulations that determine how liquidators of insolvent companies are chosen and appointed, the time frames for this to happen and, importantly, the methods by which they can be removed from office.

Mkhwebane came to her ruling thanks to (1) a BEE junior coal miner, (2) a convicted child pornographer and a disbarred solicitor-turned-thieving banker-turned-unscrupulous-miner; and (3) a liquidator best known for saying “I looove money”.

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