Corporate Affairs
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Lasting solution for e-tolls to be announced soon – Makhura
President Cyril Ramaphosa will soon make an announcement on a lasting solution for Gauteng’s e-toll system, Gauteng Premier David Makhura said on Tuesday. He said the executive council had made strong and persuasive arguments to national government on …
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Lasting solution for e-tolls to be announced soon – Makhura
President Cyril Ramaphosa will soon make an announcement on a lasting solution for Gauteng’s e-toll system, Gauteng Premier David Makhura said on Tuesday. He said the executive council had made strong and persuasive arguments to national government on …
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Two trade unions demand that SAA business rescue respects workers’ rights
Two trade unions – the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) – have jointly accused the Business Rescue Practitioners (BRPs) currently overseeing the business rescue process for State-owned South African Airways (SAA) of violating the rights of their members working at the airline. They have, as a consequence, jointly written a letter to the BRPs, they reported in a statement they issued on Tuesday.
In this letter the two unions have warned the SAA BRPs that if they fail to reply to their demands, also by Tuesday, the unions would “have no choice” but to go to the High Court to obtain an interdict against the BRPs. This interdict would be to prevent them from publishing their business rescue plan (which has to be released by March 6).
The unions pointed out that, under Section 144 (2) of the Companies Act, SAA employees are considered preferred unsecured creditors of the airline. As such, they have certain rights, which, they affirmed, the BRPs had violated.
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Two trade unions demand that SAA business rescue respects workers’ rights
Two trade unions – the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) – have jointly accused the Business Rescue Practitioners (BRPs) currently overseeing the business rescue process for State-owned South African Airways (SAA) of violating the rights of their members working at the airline. They have, as a consequence, jointly written a letter to the BRPs, they reported in a statement they issued on Tuesday.
In this letter the two unions have warned the SAA BRPs that if they fail to reply to their demands, also by Tuesday, the unions would “have no choice” but to go to the High Court to obtain an interdict against the BRPs. This interdict would be to prevent them from publishing their business rescue plan (which has to be released by March 6).
The unions pointed out that, under Section 144 (2) of the Companies Act, SAA employees are considered preferred unsecured creditors of the airline. As such, they have certain rights, which, they affirmed, the BRPs had violated.
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Two trade unions demand that SAA business rescue respects workers’ rights
Two trade unions – the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) – have jointly accused the Business Rescue Practitioners (BRPs) currently overseeing the business rescue process for State-owned South African Airways (SAA) of violating the rights of their members working at the airline. They have, as a consequence, jointly written a letter to the BRPs, they reported in a statement they issued on Tuesday.
In this letter the two unions have warned the SAA BRPs that if they fail to reply to their demands, also by Tuesday, the unions would “have no choice” but to go to the High Court to obtain an interdict against the BRPs. This interdict would be to prevent them from publishing their business rescue plan (which has to be released by March 6).
The unions pointed out that, under Section 144 (2) of the Companies Act, SAA employees are considered preferred unsecured creditors of the airline. As such, they have certain rights, which, they affirmed, the BRPs had violated.
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Two trade unions demand that SAA business rescue respects workers’ rights
Two trade unions – the National Union of Metalworkers of South Africa (Numsa) and the South African Cabin Crew Association (Sacca) – have jointly accused the Business Rescue Practitioners (BRPs) currently overseeing the business rescue process for State-owned South African Airways (SAA) of violating the rights of their members working at the airline. They have, as a consequence, jointly written a letter to the BRPs, they reported in a statement they issued on Tuesday.
In this letter the two unions have warned the SAA BRPs that if they fail to reply to their demands, also by Tuesday, the unions would “have no choice” but to go to the High Court to obtain an interdict against the BRPs. This interdict would be to prevent them from publishing their business rescue plan (which has to be released by March 6).
The unions pointed out that, under Section 144 (2) of the Companies Act, SAA employees are considered preferred unsecured creditors of the airline. As such, they have certain rights, which, they affirmed, the BRPs had violated.
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Mboweni’s budget unlikely to stop South Africa’s march to junk
Finance Minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt. Of 19 economists surveyed by Bloomberg this month, 14 expect Moody’s to downgrade the country to junk this year and nine of those say it’ll happen in the first half. That’s after the ratings company in November cut the outlook on the nation’s assessment to negative and said it would look to the Feb. 26 budget for a feasible strategy to contain rising debt.
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Mboweni’s budget unlikely to stop South Africa’s march to junk
Finance Minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt. Of 19 economists surveyed by Bloomberg this month, 14 expect Moody’s to downgrade the country to junk this year and nine of those say it’ll happen in the first half. That’s after the ratings company in November cut the outlook on the nation’s assessment to negative and said it would look to the Feb. 26 budget for a feasible strategy to contain rising debt.
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Mboweni’s budget unlikely to stop South Africa’s march to junk
Finance Minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt. Of 19 economists surveyed by Bloomberg this month, 14 expect Moody’s to downgrade the country to junk this year and nine of those say it’ll happen in the first half. That’s after the ratings company in November cut the outlook on the nation’s assessment to negative and said it would look to the Feb. 26 budget for a feasible strategy to contain rising debt.
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Mboweni’s budget unlikely to stop South Africa’s march to junk
Finance Minister Tito Mboweni’s budget this week is unlikely to convince Moody’s Investors Service that he has a credible plan to rein in government debt. Of 19 economists surveyed by Bloomberg this month, 14 expect Moody’s to downgrade the country to junk this year and nine of those say it’ll happen in the first half. That’s after the ratings company in November cut the outlook on the nation’s assessment to negative and said it would look to the Feb. 26 budget for a feasible strategy to contain rising debt.