South African company law has provided for the rescue of financially distressed companies since 1926 when the statutory procedure of judicial management was introduced by the Companies Act 46 of 1926. Unfortunately, judicial management has never been regarded as a successful corporate rescue procedure and for most of its existence it has been severely criticised on many grounds. The Companies Act 61 of 1973 that replaced the Companies Act 46 of 1926 did very little to improve this situation and judicial management remained underutilised. As a result, the Companies Act 71 of 2008 now introduces two newly-created corporate rescue procedures in the form of business rescue proceedings and the compromise with creditors. This study analyses judicial management and the new corporate rescue procedures to establish whether the identified weaknesses of judicial management have been adequately and effectively addressed in the new procedures. A comparative study with similar procedures in England and Germany is undertaken to determine whether the South African legislature has delivered on its promise to create a system of corporate rescue that will meet the needs of a modern South African economy. Several weaknesses in the new procedures are identified and a number of recommendations are made to improve the relevant provisions and to assist in providing South African company law with an efficient and acceptable corporate rescue regime. / Mercentile Law / LLD (Mercentile Law)

Univ., Diss.--Hamburg, 2005. / Literaturverz. S. [415] - 446.

This item contains the agenda, minutes, and attachments for the Faculty Senate meeting on this date. There may be additional materials from the meeting available at the Faculty Center.

La transition entre le dernier épisode glaciaire et l'actuel interglaciaire (de 20 000 à 10 000 ans avant le présent) est caractérisée par de courtes et abruptes réorganisations du climat à différentes échelles. Sur l'Altiplano bolivien des paléolacs géants se développent et disparaissent en moins de 2000 ans. La dynamique des glaciers étant contrôlée par le climat, les dépôts laissés par les anciens glaciers constituent une des rares archives climatiques disponibles sur ce haut plateau aride. La méthode des âges d'exposition permet de reconstituer l'histoire des anciens glaciers. Cette thèse apporte de nouveaux outils méthodologiques pour le calcul de ces âges. Elle présente également de nouveaux âges couplés à des reconstructions climatiques. Ces résultats indiquent que la formation des paléolacs est concomitante de refroidissements moyens compris entre 2.5 et 4.5 C par rapport au présent et d'un apport accru d'humidité depuis l'Est, franchissant la Cordillère Orientale bolivienne / The transition between the last glacial maximum and the actual interstadial (from 20 to 12 ka before present) is characterized by short and abrupt climate reorganizations at different scales. Over the Bolivian Altiplano, giant palaeo-lakes wax and wane within 2000 years. The glaciers dynamics is controlled by the climate, making the deposits from the former glaciers one of the few climatic archives available on this arid plateau. The exposure age method enables to reconstruct the history of former glaciers. This thesis brings new tools for the calculation of these ages. It also presents new ages coupled with palaeo-climate reconstructions. These results indicates that the palaeo-lake formations are concomitant with mean coolings of 2.5 to 4.2°C compared to present and with an enhanced moist transport from the East, crossing the Bolivian Oriental Cordillera

This research has investigated the long-run performance of corporate restructurings through unbundling transactions on the JSE between 2000 and 2012. The corporate unbundling transactions considered by the research are spin-offs and sell-offs. From the two unbundling transactions, four samples were derived, that is, 21 spin-offs, 14 parent-spin-offs, 14 sell-offs and 20 parent-sell-offs. The share price performance of these samples was investigated by a matching firm methodology under the buy and hold abnormal returns. The research found that positive abnormal returns are present for both samples for up to four years after unbundling. Secondly, with the exception of parent-sell-offs, significant abnormal returns were experienced by both samples for up to four years after unbundling. It was also found that a spin-off is a preferable corporate unbundling strategy to a sell-off over a long-run period. This research implies that companies with heavy structures should unbundle in order to unlock shareholders’ value. / Business Management / M. Com. (Business Management)

South African company law has provided for the rescue of financially distressed companies since 1926 when the statutory procedure of judicial management was introduced by the Companies Act 46 of 1926. Unfortunately, judicial management has never been regarded as a successful corporate rescue procedure and for most of its existence it has been severely criticised on many grounds. The Companies Act 61 of 1973 that replaced the Companies Act 46 of 1926 did very little to improve this situation and judicial management remained underutilised. As a result, the Companies Act 71 of 2008 now introduces two newly-created corporate rescue procedures in the form of business rescue proceedings and the compromise with creditors. This study analyses judicial management and the new corporate rescue procedures to establish whether the identified weaknesses of judicial management have been adequately and effectively addressed in the new procedures. A comparative study with similar procedures in England and Germany is undertaken to determine whether the South African legislature has delivered on its promise to create a system of corporate rescue that will meet the needs of a modern South African economy. Several weaknesses in the new procedures are identified and a number of recommendations are made to improve the relevant provisions and to assist in providing South African company law with an efficient and acceptable corporate rescue regime. / Mercentile Law / LLD (Mercentile Law)

No description available.

The research study focuses on transformation management in a welfare organisation and is aimed at developing a framework for a prospective model for management of a transformation process in a welfare organisation. The research was directed by two components, the nature, and the management of transformation, and was initiated with a literature study on these two concepts. The research study is limited to the Gauteng area, and only child and family welfare organisations which were already active participants of a transformation process were targeted. Data collection process was initiated by means of a structured interview schedule, completed by managers/senior social workers/ Board chairpersons (the target group). Results of the study indicate that a majority of the twenty targeted organisations had undergone an unstructured transformation process. A structured, well formulated, and planned transformation management process was required as a guideline, with a view to developing a prospective model for the management of a transformation process in a welfare organisation. Results and conclusions drawn from this study can be generalised in the broader spectrum of welfare organisations for the management of a transformation process. Further research is needed to develop the required model. / Social Work / M. Diac. (Social Work)

The South African health care environment is a two-tier health care delivery system consisting of the public sector and the private sector. The focus of this study is on the private health care sector. Private health care is funded by medical schemes through employer and employee contributions. The private sector is also the most profitable sector for multinational pharmaceutical organisations to market and sell their products within the South African health care environment. The major cost saving initiative by employers and medical schemes in the private health care sector has also been the introduction of managed health care initiatives. The goal of managed health care is to establish a system which delivers value by giving people access to quality and cost-effective healthcare. The new reality of managed health care initiatives are changing the boundaries of the South African pharmaceutical industry. The managed health care wake is overturning the business processes which made the pharmaceutical industry so successful and are rendering obsolete the industry's conventional models of corporate strategy and management systems. In the context of these turbulent changes, pharmaceutical companies are being forced simultaneously to develop new strategic approaches for the future, design new business processes which will link them more firmly to their new customers, and implement the cultural changes neccessary to accomplish the transformation from yesterday's successful pharmaceutical company to tomorrow's customer-led, integrated health care supplier. The way forward lies in three organising concepts. The first is cutomer alignment. The effort of transformation must start with an understanding of how the customer defines the value of the services and/or products offered by the organisation. Everything that follows involves aligning internal processes with external contingencies. The second is sequencing. It is vital to understand not just what needs to happen first in the transformation process, but also what the subsequent steps is and in what order the steps need to be undertaken. The third organising concept is learning. The sequence of interventions that lead to organisational transformation must occur in such a way as to maximize the ability of the organisation to learn: from customers and the marketplace, and from itself. / Business Management / D.B.L.

Text in Afrikaans / Hierdie studie is onderneem om die invloed van die veranderingsproses op die funksionering van 'n welsynsorganisasie te bepaal. 'n Literatuurstudie en empiriese studie is onderneem. Die navorsing het aangedui dat die redes vir verandering hoofsaaklik ekstern van aard is, dat 'n hoe persentasie respondente nie altyd die noodsaaklikheid of rede vir verandering verstaan nie, en dat die meerderheid die kommunikasieproses en deurgee van inligting nie altyd duidelik beleef nie. Die ondersoek dui verder aan dat die motivering van grondvlak maatskaplike werkers deur die bestuurders nie onderskat moet word nie. Die deurgee van inligting is positief ervaar, maar die werkers sou meer ondersteuning daarvan van die bestuur wou ervaar. Tydens die studie is daar 'n beperkte mate van weerstand gevind. Weerstand by werkers word egter beperk indien hulle ervaar dat hulle deel van die proses is, voorberei word op verandering, sekuriteit nie be"invloed word nie en hulle oor die nodige redes vir verandering ingelig wor / The purpose of this study was to establish the influence of the process of change on the functioning of a welfare organisation. A literature and empirical study was done. Research showed that reasons for change were primarily of an external kind, that a high percentage of respondents not always understand the necessity or reasons for change, and that most of the respondents experienced the communication channels and information not always as open and clear. The research shows that motivation of ground level social workers by managers must under no circumstances be under-estimated. The way in which information was given, was experienced positively, but workers needed more support with it from management. During the research a limited degree of resistance was further found. Resistance experienced by workers became less when they were part of the process, are prepared for change, their security not threatened and the reasons for change are known to them. / Social Work / M. Diac. (Maatskaplike Werk-rigting)