Buy & Sell Agreements
Buy & Sell Agreements are concluded when shareholders take out an insurance policy on the life or disability of another shareholder, so that on the other shareholder’s death or disability the first shareholder is paid out the funds by the policy to be able to afford to buy that other shareholder’s shares. The Buy & […]
Alternatives to Retrenchment
During stages 5 and 4 of the national lock down, when businesses not involved in providing essential services were prohibited from operating, the oft quoted “No work no pay” principle applied by operation of law. In essence, the government-imposed prohibition on business operations created a supervening impossibility of performance for both employer and employee resulting […]