South Africa

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Recent Articles

  •  
    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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  •  
    07/03/2024
    International

    Environmental and social factors in mining: a spotlight on Colombia

    Environmental and social considerations have been critical to the business of mining since long before the term ESG gained its current popularity. Mining activities are politically sensitive because they allow private companies to appropriate and profit from a state’s finite natural resources, and because they normally entail significant impacts on the natural environment and nearby communities. As a result, mining tends to be highly regulated and require environmental licences and permits, which must be supported by environmental and social impact assessments and other studies and work programmes...
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  •  
    01/03/2024
    International

    Pre-conditions to arbitration and the FIDIC 2nd Edition

    Amendments to the FIDIC 2nd Edition contracts published in November 2022 have narrowed the definition of “Dispute” to more closely align it with the pre-conditions to DAAB and arbitration proceedings specified by the form. The narrower definition raises the potential for new jurisdictional objections to be made in DAAB or arbitration proceedings commenced without compliance with those pre-conditions. In this Law-Now, we consider recent developments in the approach taken to arbitral pre-conditions in a number of international jurisdictions, before considering the specific issues thrown...
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  •  
    07/02/2024
    South Africa

    New Draft Regulations on the Proposed Numerical Sectoral Targets

    On 1 February 2024, a second round of draft regulations on the Proposed Numerical Sectoral Targets ("February 2024 Regulations") were published for public comment in the Government Gazette. The February 2024 Regulations are currently open for comment for 90 days from the date of publication (ending on 2 May 2024).Under these regulations, the Minister of Employment and Labour ("Minister") can classify different national economic sector targets that will define which companies, that operate in South Africa, will be deemed "designated employers". The classification of a designated employer will be...
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