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Business Rescue

In 1926 South Africa was the first country after the USA to have introduced business rescue legislation. Judicial management, however, proved to be ineffective and on 1 May 2011 was replaced with the business rescue provisions in Chapter 6 of the new company legislation.

Chapter 6 business rescue legislation represents a codification of the turnaround procedures followed in the informal sector, but is designed to overcome a number of practical problems faced, and to protect the interests of all stakeholders. It comes with its own problems though, and financially distressed companies will always have to make the choice between informal turnaround (workout) and Chapter 6 turnaround (business rescue) based on the specific circumstances they face.

That notwithstanding, new business rescue legislation implemented on 1 May 2011 represents an important new era in the South African turnaround industry with the potential of saving many more financially distressed but economically viable companies from liquidation.


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Collection Services  

KMG & Associates specialises in high volume debt collection.
A genuine understanding of our clients' needs, values and priorities empowers us to deliver, efficient, tailor-made debt collection services at competitive rates.


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Company And Secretarial Services  

KMG & Associates provides the following services:
  •  Planning and administrative services in respect of trusts and estates;
  •  The formation of trusts;
  •  KMG & Associates accepts appointments as independent trustee on our clients• trusts;
  •  Comprehensive company secretarial services to clients of the KMG & Associates group of companies;
  •  The formation and conversion of companies and close corporations;
  •  Shelf companies are kept available in order to expedite our clients• business developments;
  •  The company secretarial implementation of shareholders• and members• agreements; and
  •  Submissions to and communication with the Masters of the High Court, the Registrar of Companies and the
     Registrar of Close Corporations.


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Comprehensive BEE Consulting Services  

KMG & Associates provides consulting services to its clients with all aspects of BBBEE. We partner with our clients to enable them to meet their BBBEE commitments and objectives.

We provide our clients with business consulting services and as well as expert advice on BBBEE. We aim to embed ourselves to our clients• teams and processes in order to deliver on our cliens• BBBEE objectives.

Our BBBEE consulting services are as follows:
  •  Assessments and monitoring;
  •  Scenario planning and context briefings;
  •  Implementation support;
  •  BBBEE ready for rating;
  •  Broad-Based BEE training;
  •  Enterprise and Socio-Economic Development beneficiary management.


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Construction Law  

KMG & Associates have extensive experience pertaining to the following:
  •  JBCC, FIDIC, GCC or NEC contracts;
  •  Late or insufficient access;
  •  Defective drawings or specifications;
  •  Delays on the critical path;
  •  Defects caused by other contractors;
  •  Insufficient or unclear instructions;
  •  Variation orders;
  •  Payment issues;
  •  Extension of time claims;
  •  Inability to obtain a completion certificate.


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Criminal Law (Fraud Investigation)  

Criminal Law is the name given to the branch of law that governs an individual's relationship to the state. It includes the definitions of criminal offenses, which are usually established by Congress or state legislatures. The term "criminal law" also encompasses the rights of an accused and the criminal process, including arrest, pleas, discovery, pre-trial hearings, trials, evidence, motions, and post-trial remedies. The main purpose of the criminal law is to set forth the punishment for criminal offenses.

In order to prove any crime, no matter how serious, the prosecutor must prove that the accused committed a criminal act with intent beyond a reasonable doubt.

Crimes are classified as misdemeanours, less serious offenses that are normally punishable by a fine like some traffic violations, petty theft, or possession of a small amount of marijuana, and felonies--more serious offenses that warrant imprisonment of one or more years, such as rape, theft, assault with intent, assault with a deadly weapon, or homicide/murder. KMG & Associates can assist clients in the application for bail, defence and investigation of Criminal charges.

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Employment Law  

KMG & Associates offers comprehensive, effective, progressive and innovative advice to a large and growing number of major clients in all aspects of employment law in South Africa including:
  •  General Employment Law;
  •  Arbitration and Mediation;
  •  Collective Bargaining Issues and Strike Management;
  •  Disciplinary investigations and enquires;
  •  Due Diligence Exercises and Corporate Transactions;
  •  Employment Contracts;
  •  Employment Discrimination;
  •  Employment Legislation;
  •  Employment Litigation (Labour and High Court litigation);
  •  Litigation: Alternative Dispute Resolution;
  •  Policy development and drafting;
  •  Public law employment issues;
  •  Restructuring and retrenchment planning;
  •  Pension Law and Employee Benefits;
  •  Training, Seminars and Employment Law Updates.

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Environmental Law  

KMG & Associates provides high quality definitive advice that keeps our clients at the forefront of the green economy and sustainable development.

In recognition of the growing contribution of green businesses to sustainability we have expanded our capacity to offer corporate law services to green entrepreneurs and businesses such as renewable energy, clean technology and sustainable investment enterprises.

Our clients have the advantage of being advised by lawyers that combine extensive commercial law expertise with a specialist knowledge of the green economy, have a reputation for innovation and imagination and who share a commitment to creating ecologically sustainable communities.

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Insolvency Law  

Insolvency Law governs aspects of financial debt. Insolvency occurs when a company is no longer able to pay debt due. The two main types are that of the inability to pay debt when due and is thus related cash flow problems and balance sheet insolvencies when the liabilities of a company far exceed the assets.

According to Insolvency Law a company that has illiquid assets and thus a positive balance sheet, but is unable to pay the short term debts is thus in a cash flow insolvency state. When a company•s assets fall into a negative state where the liabilities become more than the assets, the company can still have enough cash flow for day to day running, but not to pay off the long term debt.

One should understand that bankruptcy is not the same as insolvency. According to the law, bankruptcy occurs when a court determines that the insolvent state cannot be resolved without legal actions and thus declares a company bankrupt.

With the numerous insolvencies that have occurred over the past few years, the focus has shifted from liquidation of assets to assistance of businesses in financial trouble. The reason is simple. Not only the business, but its suppliers, clients, shareholders, and employees are all affected. To minimize the effect is better and as such debt restructuring steps can be taken to help rehabilitate a company. KMG & Associates can assist you with all you Insolvency Law needs.

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Litigation And Dispute Resolution  

KMG & Associates litigation services area is both broad and deep, our Litigation & Dispute Resolution practice form the core of our services to our clients. Focusing on disputes that either reach the High Court or are resolved by arbitration, we are involved in many high-profile commercial litigation and arbitration matters in South Africa.

Geared for rapid response, the Litigation & Dispute Resolution team can be called upon at short notice to resolve large-scale and complex litigation matters. This includes urgent applications and discovery-driven trial and arbitration matters.

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Merger And Acquisitions  

KMG & Associates conducts merger reviews in terms of Chapter 3 of the Act. Firms entering into Intermediate or Large mergers are required in terms of Section 13A of the Competition Act 89 of 1998 (•the Act•) to notify the Commission of that merger in a prescribed manner and form and may not implement that merger until it has been approved with or without conditions by either the Commission (intermediate mergers) or the Tribunal (Large mergers) or Competition Appeal Court.

KMG & Associates investigate and analyse the likely effects of the notified merger and conclude whether or not the merger is likely to substantially prevent or lessen competition in any of the markets in which the parties compete. In addition the division will consider the likely impact that the transaction is likely to have on the following public interest grounds:
  •  A particular industrial sector or region;
  •  Employment;
  •  The ability of small businesses, or firms controlled or owned by historically disadvantaged persons, to
     become competitive; and

  •  The ability of national industries to compete in international markets.

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Property Law  

The Conveyancing Department of KMG & Associates handles all aspects relating to property and property law in South Africa.

The services provided by the conveyancing department include:
  •  Advising on and drafting of commercial and residential leases;
  •  Commercial and residential developments, including township establishment and sectional title

  •  Conventional transfers of properties, as well as transfers as a result of or in terms of liquidations, auctions,
     court orders, foreclosures, divorces, donations and deceased and insolvent estates;

  •  Financial planning and structuring of share block and time share schemes;
  •  Financial structuring of property transactions;
  •  Miscellaneous applications, consents and endorsements required in the conveyancing process;
  •  Negotiating and drafting agreements relating to the sale of properties, both residential and commercial;
  •  Project and commercial property development finance;
  •  Property finance;
  •  Registration and cancellation of all types of bonds, including mortgage-, surety-, collateral- and notarial

  •  Registration of all types of servitudes;
  •  Subdivision and consolidation of properties.

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