Browsing by Author "Idensohn, Kathy"

Now showing 1 - 5 of 5
  • Thumbnail Image
    Item
    Open Access
    Business rescue for Zambia: suggestions for legislative reform
    (2012) Kaulungombe, Kaluba Gloria; Idensohn, Kathy
    A Company is an integral part of the community in which it does business as it impacts on that community and the economy of the country as a whole. Consequently, the failure of that company not only affects that community but also the shareholders, suppliers, employees and customers. The company law of a country therefore needs to provide a means to preserve commercial enterprises that are capable of making a useful contribution to the economic life of a country. In recent years, several developed and developing countries have enacted business rescue legislation to supplement existing insolvency rescue procedures such as receivership and the scheme of arrangements. This dissertation discusses the need for Zambia to enact adequate business rescue legislation considering the current inadequacies in the existing Companies Act.
  • Thumbnail Image
    Item
    Open Access
    The correct understanding of the Business Judgment Rule in Section 76(4) of the Companies Act 71 of 2008: avoiding the American mistakes
    (2014) Leach, James; Idensohn, Kathy
    The South African law concerning directors' duties is intricate under both the common law and the Companies Act. This is an area of corporate law which allows for a wealth of practical and theoretical difficulty. I aim to deconstruct the intricacy of the American experience of the business judgment rule, with particular reference to the rule in Delaware, so as to present what I perceive to be the correct practical application of the rule in South African corporate law. This dissertation does not address the wisdom of the decision to transplant and codify the American business judgment rule within the Companies Act.
  • Thumbnail Image
    Item
    Open Access
    How comparative laws of foreign jurisdictions may be used by South African courts to find the fair value of shares when shareholders use the appraisal remedy provided for in s 164 of the South African Companies Act 71 of 2008
    (2015) Havenga, Kelsey; Idensohn, Kathy
    A set method of determination of the fair value of shares is omitted from s164 of the South African Companies Act 71 of 2008 (the South African Act), which deals with the appraisal remedies of dissenting shareholders. This dissertation will consider how courts in the United Kingdom and the United States have dealt with the question of what is fair value in the context of oppression remedies and appraisal rights
  • Thumbnail Image
    Item
    Restricted
    Income inequality and executive remuneration: assessing the role of law and policy in the pursuit of equality
    (2010) Collier, Debbie; Idensohn, Kathy; Adkins, Jill
    For a number of reasons South Africa today maintains its pre-democracy status as one of the world’s most unequal nations in terms of the income gap between the richest and the poorest persons. This is so notwithstanding a post-apartheid, constitutionally backed, commitment to reducing this income inequality and notwithstanding an increase in social security spending. This article assesses the efficacy of measures designed generally to compress wages and, more specifically, to guard against excessive executive remuneration. In particular the article focuses on the provisions of the Employment Equity Act, read with the Basic Conditions of Employment Act, and on the relevant provisions of company law and the principles of corporate governance. While the article expresses scepticism about the ability of law alone to engineer a more equal society, the article, after reflecting on the consequences of an unequal society, nonetheless urges that the pursuit of greater equality should not be sacrificed at the altar of an economic policy that is overly concerned with growth. The article argues that growth is in fact hampered by extreme inequality and makes some suggestions on how to reprioritise the pursuit of equality and social justice.
  • Thumbnail Image
    Item
    Open Access
    The responsibilities of the board of directors in promoting the principles of corporate governance
    (2014) Parry, Wainedon Henri Christopher; Idensohn, Kathy
    Corporate governance is an important aspect of the way in which companies do business. It regulates the conduct of those in control of the corporation. An important aspect of corporate governance is the establishment of structures and processes that enable directors to discharge their legal responsibilities. The global financial crisis raised many corporate governance issues and this led to many reviews and changes to corporate governance systems worldwide. This is the main reason for this research. This dissertation will focus on these reviews and changes in the corporate governance systems of South Africa and the United Kingdom. The recent collapses of high profile companies, for example, Enron and WorldCom in America, Parmalat in Italy and Masterbond, Saambou and Fidentia in South Africa have resulted in the actions, skill and diligence of directors to again come under strict inspection. Companies and especially directors have to realise that they do not act independently but that their actions and decisions impact on the societies and environment in which they operate. This is the main problem in this dissertation. The new Companies Act 71 of 2008 incorporates into statute for the first time issues of corporate governance. Company law sets the framework in which the company operates and the recommended practices set out in the King Report on Governance for South Africa 2009 (‘the King III Report’) and the King Code of Governance for South Africa 2009 (‘the Code’) provide guidance for directors as to how they should direct the business of the company and make decisions on behalf of the company. In this sense, the Companies Act of 2008 and the King III Report and the Code complement each other. The King III Report and the Code deal broadly with the responsibilities of the board of directors. The Report confirms that it is for the board of directors to act as the focal point and custodian of corporate governance. This dissertation is in essence an examination of the responsibilities of the board of directors to promote the principles of corporate governance and recommendations in terms of the King III Report and the Code.