Intramed (Pty) Ltd (in liquidation) and Another v Standard Bank of South Africa Ltd and Others (629/06) [2007] ZASCA 141; [2007] SCA 141 (RSA); [2008] 2 All SA 394 (SCA); 2008 (2) SA 466 (SCA) (20 November 2007)

Intramed (Pty) Ltd (in liquidation) and Another v Standard Bank of South Africa Ltd and Others (629/06) [2007] ZASCA 141; [2007] SCA 141 (RSA); [2008] 2 All SA 394 (SCA); 2008 (2) SA 466 (SCA) (20 November 2007)

The Supreme Court of Appeal held that Standard Bank remained a creditor of Intramed (Pty) Ltd because the interest awarded in the Johannesburg High Court judgment ran from the date of proof of claim, which was the date the bank's claim was liquidated and ascertainable. The phrase 'a tempore morae' in the judgment meant interest accrued from the time the debtor was in default, i.e., from the date of proof of claim. The authorities cited by the appellants were distinguished as relating to unliquidated claims, whereas the bank's claim was liquidated. Therefore, the bank had locus standi to apply for the removal of the liquidators. The appeal was dismissed with costs, including the costs of...

Citation
[2007] ZASCA 141
Parties
Appellant: Intramed (Pty) Ltd (in liquidation); Appellant: Macmed Healthcare Ltd (in liquidation); Respondent: Standard Bank of South Africa Ltd; Respondent: The Master of the High Court; Respondent: Brian Basil Nel; Respondent: Michael Leo De Villiers
Court
Supreme Court of Appeal
Jurisdiction
South Africa
Judgment Date
20 November 2007
Case Number
629/06
Procedural Posture
Civil Appeal / Appeal From Grahamstown High Court
Outcome
Appeal dismissed with costs, including costs of two counsel.
Judges
Harms, Navsa, Lewis, Maya, Malan
Legal Topics
Locus Standi, Liquidation Proceedings, Interest a Tempore Morae, Creditor Rights, Removal of Liquidators
Civil Procedure Banking and Finance Commercial and Corporate Locus Standi Liquidation Proceedings Interest a Tempore Morae Creditor Rights Removal of Liquidators

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Parties

Intramed (Pty) Ltd (in liquidation)

Appellant

Macmed Healthcare Ltd (in liquidation)

Appellant

Standard Bank of South Africa Ltd

Respondent

The Master of the High Court

Respondent

Brian Basil Nel

Respondent

Michael Leo De Villiers

Respondent

Procedural Posture

Civil Appeal / Appeal From Grahamstown High Court

Legal Issues

  1. 1 Whether Standard Bank had locus standi to apply for the removal of joint liquidators of Intramed (Pty) Ltd.
  2. 2 Whether Standard Bank remained a creditor of Intramed at the relevant time, entitling it to bring the application.
  3. 3 Whether interest awarded in the Johannesburg High Court judgment ran from the date of proof of claim or only from the date of judgment.

Ratio Decidendi

The Supreme Court of Appeal held that Standard Bank remained a creditor of Intramed (Pty) Ltd because the interest awarded in the Johannesburg High Court judgment ran from the date of proof of claim, which was the date the bank's claim was liquidated and ascertainable. The phrase 'a tempore morae' in the judgment meant interest accrued from the time the debtor was in default, i.e., from the date of proof of claim. The authorities cited by the appellants were distinguished as relating to unliquidated claims, whereas the bank's claim was liquidated. Therefore, the bank had locus standi to apply for the removal of the liquidators. The appeal was dismissed with costs, including the costs of...

Court Disposition

Appeal dismissed with costs, including costs of two counsel.

Orders

  • The appeal is dismissed with costs including the costs of two counsel.