Alpha Bank Bpk. en Andere v Registrateur van Banke en Andere (389/94, 130/95) [1995] ZASCA 84; 1996 (1) SA 330 (SCA); (28 August 1995)

Alpha Bank Bpk. en Andere v Registrateur van Banke en Andere (389/94, 130/95) [1995] ZASCA 84; 1996 (1) SA 330 (SCA); (28 August 1995)

The court found that the petition for leave to appeal was filed late without a satisfactory explanation, and the application for condonation was defective both procedurally and substantively. On the merits, the court held that the curatorship of Alpha Bank was validly imposed, with all statutory requirements met, including consultation and written consent, which could be performed by the Registrar as an official of the Minister. The Registrar had locus standi to bring the liquidation application, as Alpha Bank was validly registered at all relevant times. The applicants, including the purported new board and shareholders, had no residual powers or standing following curatorship, as all...

Citation
[1995] ZASCA 84
Parties
Applicant: Alpha Bank Beperk; Applicant: Metamin Investment Corporation Bpk; Applicant: Berlitas Investments No. 2 Bpk; Applicant: Chase Realty (Edms) Bpk; Applicant: Chase Consulting (Edms) Bpk; Applicant: Alpha Bank Holdings Bpk; Applicant: Hendrik Petrus Hough; Respondent: Registrateur van Banke; Respondent: Suid-Afrikaanse Reserwebank; Respondent: T A P du Plessis N.O.
Court
Supreme Court of Appeal
Jurisdiction
South Africa
Judgment Date
28 August 1995
Case Number
389/94, 130/95
Procedural Posture
Leave to Appeal / Application for Condonation and Leave to Appeal Against Orders of the Transvaal Provincial Division, Following Refusal of Leave by the Court a Quo.
Outcome
Application for condonation and leave to appeal dismissed; costs awarded against the applicants.
Judges
Hefer, Steyn, Eksteen, Van den Heever, Olivier
Legal Topics
Bank Insolvency, Locus Standi, Condonation, Company Liquidation, Judicial Management, Ministerial Discretion
Banking and Finance Civil Procedure Bank Insolvency Locus Standi Condonation Company Liquidation Judicial Management Ministerial Discretion

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 4 Authorities cited 10 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

Alpha Bank Beperk

Applicant

Metamin Investment Corporation Bpk

Applicant

Berlitas Investments No. 2 Bpk

Applicant

Chase Realty (Edms) Bpk

Applicant

Chase Consulting (Edms) Bpk

Applicant

Alpha Bank Holdings Bpk

Applicant

Hendrik Petrus Hough

Applicant

Registrateur van Banke

Respondent

Suid-Afrikaanse Reserwebank

Respondent

T A P du Plessis N.O.

Respondent

Procedural Posture

Leave to Appeal / Application for Condonation and Leave to Appeal Against Orders of the Transvaal Provincial Division, Following Refusal of Leave by the Court a Quo.

Legal Issues

  1. 1 Whether condonation should be granted for late filing of the petition for leave to appeal.
  2. 2 Whether leave to appeal should be granted against the orders made by Nugent R in the various applications.
  3. 3 Whether the appointment of the curator and subsequent actions were valid under the relevant banking legislation.

Ratio Decidendi

The court found that the petition for leave to appeal was filed late without a satisfactory explanation, and the application for condonation was defective both procedurally and substantively. On the merits, the court held that the curatorship of Alpha Bank was validly imposed, with all statutory requirements met, including consultation and written consent, which could be performed by the Registrar as an official of the Minister. The Registrar had locus standi to bring the liquidation application, as Alpha Bank was validly registered at all relevant times. The applicants, including the purported new board and shareholders, had no residual powers or standing following curatorship, as all...

Court Disposition

Application for condonation and leave to appeal dismissed; costs awarded against the applicants.

Orders

  • H P Hough's application to substitute the second to sixth petitioners is dismissed with costs, including costs of two counsel for the first and second respondents.
  • The application by the first to seventh petitioners for condonation for late filing of the petition for leave to appeal against all orders made by Nugent R on 30 March 1994 in applications 21011/93, 6487/94, 18534/93, 3519/94, 19305/93, and 20034/93 is dismissed.