Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective

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dc.contributor.advisorYeats, Jacquelineen_ZA
dc.contributor.authorArnot, Michael Jamesen_ZA
dc.date.accessioned2016-04-22T13:39:29Z
dc.date.available2016-04-22T13:39:29Z
dc.date.issued2010en_ZA
dc.description.abstractCompany law in South Africa has recently been subject to an extensive review which culminated in the passing of a new act, being the Companies Act No. 71 of 2008 (hereinafter 'the new companies Act or 'new Act'). The new Act has not yet come into effect but officials at the Companies and Intellectual Property Office remain optimistic that the new legislation will become effective before the end of the year. The new Act takes South African company law away from its English law roots and brings it into line with international trends. Indeed the South Africanisation of company law was one of the stated objectives of the review process; it being held to be important that the unique characteristics of the South African context and especially the promotion of equity as envisaged under the Constitution be taken into account in the drafting our laws. This research paper is primarily concerned with the legislature's efforts to protect company creditors' interests via mechanisms designed to maintain the economic or capital base of a company. Historically this found expression in the capital maintenance rule but problems with this rule resulted in it being shelved in favour of a regime based on solvency and liquidity. The concept of imposing solvency and liquidity requirements on companies in certain instances was introduced into South African company law in amendments to the existing Companies Acts promulgated in 1999. This resulted in the fragmented approach to the maintenance of an economic or capital base of a company that we currently face: certain areas being subject to the newly imposed solvency and liquidity requirements while at the same time other provisions built around capital maintenance remaining in force.en_ZA
dc.identifier.apacitationArnot, M. J. (2010). <i>Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective</i>. (Thesis). University of Cape Town ,Faculty of Law ,Department of Commercial Law. Retrieved from http://hdl.handle.net/11427/19145en_ZA
dc.identifier.chicagocitationArnot, Michael James. <i>"Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective."</i> Thesis., University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2010. http://hdl.handle.net/11427/19145en_ZA
dc.identifier.citationArnot, M. 2010. Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Arnot, Michael James AB - Company law in South Africa has recently been subject to an extensive review which culminated in the passing of a new act, being the Companies Act No. 71 of 2008 (hereinafter 'the new companies Act or 'new Act'). The new Act has not yet come into effect but officials at the Companies and Intellectual Property Office remain optimistic that the new legislation will become effective before the end of the year. The new Act takes South African company law away from its English law roots and brings it into line with international trends. Indeed the South Africanisation of company law was one of the stated objectives of the review process; it being held to be important that the unique characteristics of the South African context and especially the promotion of equity as envisaged under the Constitution be taken into account in the drafting our laws. This research paper is primarily concerned with the legislature's efforts to protect company creditors' interests via mechanisms designed to maintain the economic or capital base of a company. Historically this found expression in the capital maintenance rule but problems with this rule resulted in it being shelved in favour of a regime based on solvency and liquidity. The concept of imposing solvency and liquidity requirements on companies in certain instances was introduced into South African company law in amendments to the existing Companies Acts promulgated in 1999. This resulted in the fragmented approach to the maintenance of an economic or capital base of a company that we currently face: certain areas being subject to the newly imposed solvency and liquidity requirements while at the same time other provisions built around capital maintenance remaining in force. DA - 2010 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2010 T1 - Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective TI - Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective UR - http://hdl.handle.net/11427/19145 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/19145
dc.identifier.vancouvercitationArnot MJ. Company law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspective. [Thesis]. University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2010 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/19145en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Commercial Lawen_ZA
dc.publisher.facultyFaculty of Lawen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherCommercial Lawen_ZA
dc.titleCompany law and the protection of creditors' interests: from capital maintenance to solvency and liquidity and beyond - a South African perspectiveen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMPhilen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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