Effect of Business Rescue on Employees and Contracts
Section 136 of the Companies Act sets out the effect of business rescue on employees and contracts, providing the legal framework for how employment relationships and existing contractual obligations are treated when a company enters financial distress. Because the purpose of business rescue is rehabilitation rather than liquidation, the Act aims to protect employees by […]
Protection for Whistle Blowers (Section 159 of the Companies Act, as Amended)
We see that any provision of a company’s Memorandum of Incorporation or rules, or an agreement, is void to the extent that it is inconsistent with, or purports to limit, set aside or negate the effect of this section 159. From a proper reading thereof, it is save to concluded that it applies to any […]