Nwafor, A. O.Letuka, P.Sibanda, Mandlaenkosi2019-06-102019-06-102019-05-18Sibanda, Mandlaenkosi (2019) A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008. University of Venda, South Africa.<http://hdl.handle.net/11602/1365>.http://hdl.handle.net/11602/1365LLMDepartment of Mercantile LawThis research examined the mechanisms that were employed by the Companies Act 71 of 2008 in order to protect the interests of creditors in company affairs. At the preamble of the aforementioned Act lies an undertaking from legislature to provide appropriate redress to investors and third parties/creditors. It was on that basis that the researcher sought to establish whether legislature had indeed fulfilled its commitment to provide appropriate redress to creditors. Traditionally, companies have been run to promote the interests of shareholders with little attention given to the interests of other stakeholders such as creditors. It is this research`s findings that South African company law has moved from the traditional view, that is the shareholder value approach, to the enlightened shareholder value approach: a model of corporate governance which permits directors to have regard, where appropriate, to the interests of other stakeholders but with shareholders’ interests retaining primacy. It is thus found that creditors cannot be protected by contract laws alone but that their protection should be enhanced by mandatory corporate laws which regulates the manner and conduct of company controllers in a way that ensures that the interests of all stakeholders, including creditors, are given due regard. Finally, it has been found that much work has been done by legislature in developing the re-enacted creditor protective mechanisms and also in statutorily adopting new mechanisms which are aimed at advancing creditor interests. Recommendations have thus been made to legislature for possible amendments to refine its corporate laws.1 online resource (xii, 128 leaves)enUniversity of VendaBusiness rescueUCTDCompanyCompany controllersCreditorsCreditorsCredit Protective mechanismsCreditor CompromiseCorporate Constituencies or StakeholdersDirectorsEnforcement mechanismsInvestorsLiquidationPiercing the corporate veilSolvency and liquidityShareholderTurquand rule346.07768Debtor and creditor -- South AfricaCredit -- Law and legislation -- South AfricaCommercial law -- Law and Legislation - South AfricaContracts -- Law and legislation -- South AfricaDissertationSibanda M. A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008. []. , 2019 [cited yyyy month dd]. Available from: http://hdl.handle.net/11602/1365Sibanda, M. (2019). <i>A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008</i>. (). . Retrieved from http://hdl.handle.net/11602/1365Sibanda, Mandlaenkosi. <i>"A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008."</i> ., , 2019. http://hdl.handle.net/11602/1365TY - Dissertation AU - Sibanda, Mandlaenkosi AB - This research examined the mechanisms that were employed by the Companies Act 71 of 2008 in order to protect the interests of creditors in company affairs. At the preamble of the aforementioned Act lies an undertaking from legislature to provide appropriate redress to investors and third parties/creditors. It was on that basis that the researcher sought to establish whether legislature had indeed fulfilled its commitment to provide appropriate redress to creditors. Traditionally, companies have been run to promote the interests of shareholders with little attention given to the interests of other stakeholders such as creditors. It is this research`s findings that South African company law has moved from the traditional view, that is the shareholder value approach, to the enlightened shareholder value approach: a model of corporate governance which permits directors to have regard, where appropriate, to the interests of other stakeholders but with shareholders’ interests retaining primacy. It is thus found that creditors cannot be protected by contract laws alone but that their protection should be enhanced by mandatory corporate laws which regulates the manner and conduct of company controllers in a way that ensures that the interests of all stakeholders, including creditors, are given due regard. Finally, it has been found that much work has been done by legislature in developing the re-enacted creditor protective mechanisms and also in statutorily adopting new mechanisms which are aimed at advancing creditor interests. Recommendations have thus been made to legislature for possible amendments to refine its corporate laws. DA - 2019-05-18 DB - ResearchSpace DP - Univen KW - Business rescue KW - Company KW - Company controllers KW - Creditors KW - Creditors KW - Credit Protective mechanisms KW - Creditor Compromise KW - Corporate Constituencies or Stakeholders KW - Directors KW - Enforcement mechanisms KW - Investors KW - Liquidation KW - Piercing the corporate veil KW - Solvency and liquidity KW - Shareholder KW - Turquand rule LK - https://univendspace.univen.ac.za PY - 2019 T1 - A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008 TI - A critical appraisal of the creditor protective mechanisms under the South African Companies Act 71 of 2008 UR - http://hdl.handle.net/11602/1365 ER -