Tag: ill health

Once an employee has resigned the employee cannot withdraw the resignation unless the employer consents thereto. This consent must be given prior to the expiry of the employee’s notice period when the resignation becomes effective, failing which a fresh agreement of employment will have to be concluded.

The process of ‘business rescue’, as outlined in the Companies Act, has become heavily stigmatised in South Africa, leading to undue strain on corporates and an overall less healthy business environment. Companies, like people, can get 'sick' from time to time. When this occurs, a business is said to be suffering from 'financial distress', a condition caused by various factors.