South Africa

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Recent Articles

  •  
    12/04/2024
    International

    Oil & Gas: English court restrains foreign JOA proceedings in breach of arbitration provision

    In The Shell Petroleum Development Company of Nigeria Limited v Sunlink Energies and Resources Limited [2023] EWHC 3135 (Comm), the English Commercial Court demonstrated its willingness to ensure that a joint operating agreement’s arbitration provisions were preserved, and backed by real action by the court for a party seeking to circumvent them.BackgroundThe claimant, Shell Petroleum Development Company of Nigeria Limited (“SPDC”), and the defendant, Sunlink Energies and Resources Limited (“Sunlink”), were parties to a 2005 Joint Operating Agreement (the “JOA”)...
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  •  
    09/04/2024
    International

    CMS European M&A Study 2024: Optimism for M&A amid evolving market trends

    The CMS Corporate/M&A Group is pleased to launch the 16th edition of the European M&A Study.It's been a wild ride for mergers and acquisitions (M&A) around the world this year. Yet, despite the turbulence, we are seeing plenty of reasons to be hopeful about M&A activities in Europe for 2024. The resilience shown amidst economic and geopolitical ups and downs is truly inspiring. Our Study dives into an impressive 559 M&A deals that CMS advised in 2023 and reports on deal trends and current market standards on risk allocation.You can download the study here.Key findings:Sustained...
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    28/03/2024
    South Africa

    Warning to all landlords: Perfect or suffer the consequences

    Does a landlord have an automatic right of retention/ lien over the movables of the lessee that can be exercised to off-set arrear rental? The Supreme Court of Appeal in the recent case of Ergomode (Pty) Ltd v Jordaan NO and Others (643/2022) [2024] ZASCA 10 (29 January 2024) laid down the law in an area of the law where many landlords have resorted to self-help for many years.The FactsIn this case, Ergomode Proprietary Limited (“Ergomode”) entered into a lease agreement with Sakhile Contract Mining Proprietary Limited (“Sakhile”), in which it was agreed that Sakhile would...
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    20/03/2024
    South Africa

    The precarious position of the voting rights of post commencement creditors

    The rescue of a company in business rescue ultimately depends on the implementation of a viable business rescue plan which has received the support of 75% of the creditors of the company. A recent business rescue case of Wescoal Mining (Pty) Ltd Another v Mkhombo NO1 and Other has potentially wide-ranging implications for creditors after business rescue has commenced. At the heart of the case was the approval of a business rescue plan for Arnot Opco Proprietary Limited, aimed at selling the company to Ndalamo Coal Proprietary Limited. However, the approval process was marred by disputes over...
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  •  
    13/03/2024
    International

    After EU Commission's first decision on Carbon Contracts for Difference, Germany initiates bidding of EUR 4bn

    The European Commission approved the first Carbon Contracts for Difference (CCfD) scheme under the new Guidelines on State aid for climate, environmental protection and energy 2022 (CEEAG).Following the Commission's decision, on 12 March 2024 the German Federal Ministry for Economic Affairs and Climate Protection (BMWK) initiated the first bidding process with a total volume of EUR 4bn. With this funding scheme, Germany is taking a pioneering role in Europe and internationally in the field of state aid for climate protection. Concept of contracts for differenceA contract for difference entitles...
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  •  
    07/03/2024
    South Africa

    An Increase in the BCEA Earnings Threshold and National Minimum Wage

    On 5 March 2024, the Department of Employment of Labour (“DEL”) published a government gazette providing for an increase of the earnings threshold in terms of section 6(3) the Basic Conditions of Employment Act 75 of 1997 (“BCEA”).  This represents a 5,5% increase from the previous threshold of R241,110.59 per annum to R254,371.67 per annum (being R21,197.63 per month). This increase will take effect from 1 April 2024.For those employers who pay employees at or around the earnings threshold, it is important for such employers to review such employees’...
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