LLM / Department of Mercantile Law / 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. / NRF

The South African Revenue Service has in the past had difficulty in applying debt forgiveness in cases of corporate and business rescues. Taxation legislation was drafted to counter innovative section 311 schemes of arrangements where the sole purpose was to obtain maximum taxations benefits in relation to entities in financial difficulties. This approach was only concerned with the interests of the Revenue authorities. The central theme of this study focuses of the procedures now available to tax authorities and debtors alike when compromises were and are considered in South Africa in terms of income tax and company legislation. The South Africa Revenue Service’s approach the corporate rehabilitation is examined which is vital for investors, creditors and debtors alike. A comparative study with similar procedures in England is undertaken to establish how valid the procedures are in establishing a viable corporate rescue environment in South Africa in the future. / Dissertation (LLM)--University of Pretoria, 2012. / Procedural Law / unrestricted

No description available.

Surveillance wireless sensor networks (WSNs) are highly vulnerable to the failure of the base station (BS) because attackers can easily render the network useless for relatively long periods of time by only destroying the BS. The time and effort needed to destroy the BS is much less than that needed to destroy the numerous sensing nodes. Previous works have tackled BS failure by deploying a mobile BS or by using multiple BSs, which requires extra cost. Moreover, despite using the best electronic countermeasures, intrusion tolerance systems and anti-traffic analysis strategies to protect the BSs, an adversary can still destroy them. The new BS cannot trust the deployed sensor nodes. Also, previous works lack both the procedures to ensure network reliability and security during BS failure such as storing then sending reports concerning security threats against nodes to the new BS and the procedures to verify the trustworthiness of the deployed sensing nodes. Otherwise, a new WSN must be re-deployed which involves a high cost and requires time for the deployment and setup of the new WSN. In this thesis, we address the problem of reliable recovery from a BS failure by proposing a new security architecture called Surveillance Security (SurvSec). SurvSec continuously monitors the network for security threats and stores data related to node security, detects and authenticates the new BS, and recovers the stored data at the new BS. SurvSec includes encryption for security-related information using an efficient dynamic secret sharing algorithm, where previous work has high computations for dynamic secret sharing. SurvSec includes compromised nodes detection protocol against collaborative work of attackers working at the same time where previous works have been inefficient against collaborative work of attackers working at the same time. SurvSec includes a key management scheme for homogenous WSN, where previous works assume heterogeneous WSN using High-end Sensor Nodes (HSN) which are the best target for the attackers. SurvSec includes efficient encryption architecture against quantum computers with a low time delay for encryption and decryption, where previous works have had high time delay to encrypt and decrypt large data size, where AES-256 has 14 rounds and high delay. SurvSec consists of five components, which are: 1. A Hierarchical Data Storage and Data Recovery System. 2. Security for the Stored Data using a new dynamic secret sharing algorithm. 3. A Compromised-Nodes Detection Algorithm at the first stage. 4. A Hybrid and Dynamic Key Management scheme for homogenous network. 5. Powerful Encryption Architecture for post-quantum computers with low time delay. In this thesis, we introduce six new contributions which are the followings: 1. The development of the new security architecture called Surveillance Security (SurvSec) based on distributed Security Managers (SMs) to enable distributed network security and distributed secure storage. 2. The design of a new dynamic secret sharing algorithm to secure the stored data by using distributed users tables. 3. A new algorithm to detect compromised nodes at the first stage, when a group of attackers capture many legitimate nodes after the base station destruction. This algorithm is designed to be resistant against a group of attackers working at the same time to compromise many legitimate nodes during the base station failure. 4. A hybrid and dynamic key management scheme for homogenous network which is called certificates shared verification key management. 5. A new encryption architecture which is called the spread spectrum encryption architecture SSEA to resist quantum-computers attacks. 6. Hardware implementation of reliable network recovery from BS failure. The description of the new security architecture SurvSec components is done followed by a simulation and analytical study of the proposed solutions to show its performance.

Surveillance wireless sensor networks (WSNs) are highly vulnerable to the failure of the base station (BS) because attackers can easily render the network useless for relatively long periods of time by only destroying the BS. The time and effort needed to destroy the BS is much less than that needed to destroy the numerous sensing nodes. Previous works have tackled BS failure by deploying a mobile BS or by using multiple BSs, which requires extra cost. Moreover, despite using the best electronic countermeasures, intrusion tolerance systems and anti-traffic analysis strategies to protect the BSs, an adversary can still destroy them. The new BS cannot trust the deployed sensor nodes. Also, previous works lack both the procedures to ensure network reliability and security during BS failure such as storing then sending reports concerning security threats against nodes to the new BS and the procedures to verify the trustworthiness of the deployed sensing nodes. Otherwise, a new WSN must be re-deployed which involves a high cost and requires time for the deployment and setup of the new WSN. In this thesis, we address the problem of reliable recovery from a BS failure by proposing a new security architecture called Surveillance Security (SurvSec). SurvSec continuously monitors the network for security threats and stores data related to node security, detects and authenticates the new BS, and recovers the stored data at the new BS. SurvSec includes encryption for security-related information using an efficient dynamic secret sharing algorithm, where previous work has high computations for dynamic secret sharing. SurvSec includes compromised nodes detection protocol against collaborative work of attackers working at the same time where previous works have been inefficient against collaborative work of attackers working at the same time. SurvSec includes a key management scheme for homogenous WSN, where previous works assume heterogeneous WSN using High-end Sensor Nodes (HSN) which are the best target for the attackers. SurvSec includes efficient encryption architecture against quantum computers with a low time delay for encryption and decryption, where previous works have had high time delay to encrypt and decrypt large data size, where AES-256 has 14 rounds and high delay. SurvSec consists of five components, which are: 1. A Hierarchical Data Storage and Data Recovery System. 2. Security for the Stored Data using a new dynamic secret sharing algorithm. 3. A Compromised-Nodes Detection Algorithm at the first stage. 4. A Hybrid and Dynamic Key Management scheme for homogenous network. 5. Powerful Encryption Architecture for post-quantum computers with low time delay. In this thesis, we introduce six new contributions which are the followings: 1. The development of the new security architecture called Surveillance Security (SurvSec) based on distributed Security Managers (SMs) to enable distributed network security and distributed secure storage. 2. The design of a new dynamic secret sharing algorithm to secure the stored data by using distributed users tables. 3. A new algorithm to detect compromised nodes at the first stage, when a group of attackers capture many legitimate nodes after the base station destruction. This algorithm is designed to be resistant against a group of attackers working at the same time to compromise many legitimate nodes during the base station failure. 4. A hybrid and dynamic key management scheme for homogenous network which is called certificates shared verification key management. 5. A new encryption architecture which is called the spread spectrum encryption architecture SSEA to resist quantum-computers attacks. 6. Hardware implementation of reliable network recovery from BS failure. The description of the new security architecture SurvSec components is done followed by a simulation and analytical study of the proposed solutions to show its performance.