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BUSINESS INSIGHTS: The benefits of commercial mediation

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Commercial mediation helps resolve shareholder disputes efficiently, saving time and money by avoiding costly litigation and liquidation.

The eerily similar nature of the two matters that I was involved in was ample motivation to prepare this short case study. Both cases involved disputes amongst shareholders related to matters of corporate governance significant trust deficits among the parties involved, and who were deadlocked as to the future management of the company.

Ultimately the business rescue plan presented was voted down and the business rescue practitioners had no alternative but to convert the proceedings to liquidation leaving the Company rudderless and being tossed about in the waves. Creditors who were aware of the court proceedings were now reluctant to extend credit, experienced staff who were able to find alternative employment did so and customers who may have engaged on long-term projects have looked to competitors.

It would seem to me that failure to consider mediation as an option not only falls foul of the recently promulgated Rule 41A but it also displays an unusual lack of common sense. Orlando Pirates head coach Jose Riveiro has become an icon in Soweto after another MTN8 Cup win against Stellenbosch FC last weekend.

 

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