Morwane v Absa Limited and Others (M499/2016) [2017] ZANWHC 48 (6 April 2017)

Morwane v Absa Limited and Others (M499/2016) [2017] ZANWHC 48 (6 April 2017)

The court found that the applicant, having resigned as director and disposed of his shareholding in the third and fourth respondent companies, no longer has any legal right to access the information requested under section 26 of the Companies Act. The information sought does not fall within the scope of company records accessible to non-members or non-directors. The applicant failed to disclose the parting agreement and misrepresented his status in the founding affidavit, which undermined his case. The court held that there is no legal basis for the relief sought, and the application was dismissed with costs.

Citation
[2017] ZANWHC 48
Parties
Applicant: Simon Simi Morwane; Respondent: Absa Limited; Respondent: Walter Lowrens Kinnear; Respondent: Sitona Mining and Consultants (Pty) Ltd; Respondent: Thakadu Holdins (Pty) Ltd
Court
North West High Court, Mafikeng
Jurisdiction
South Africa
Judgment Date
6 April 2017
Case Number
M499/2016
Procedural Posture
Civil Application / Judgment on Application for Access to Company Information and Documents
Outcome
Application dismissed with costs.
Judges
A M Kgoele
Legal Topics
Companies Act Access to Records, Shareholder Rights, Director Resignation, Locus Standi, Information Disclosure
Commercial and Corporate Companies Act Access to Records Shareholder Rights Director Resignation Locus Standi Information Disclosure

Case Brief

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Parties

Simon Simi Morwane

Applicant

Absa Limited

Respondent

Walter Lowrens Kinnear

Respondent

Sitona Mining and Consultants (Pty) Ltd

Respondent

Thakadu Holdins (Pty) Ltd

Respondent

Procedural Posture

Civil Application / Judgment on Application for Access to Company Information and Documents

Legal Issues

  1. 1 Whether the applicant, as a former director and shareholder, is entitled to access company records and information for the period during which he held office.
  2. 2 Whether the Companies Act 71 of 2008 or any other law provides a basis for the applicant's request for information.
  3. 3 Whether the applicant disclosed a cause of action entitling him to the relief sought in prayers 1-9.

Ratio Decidendi

The court found that the applicant, having resigned as director and disposed of his shareholding in the third and fourth respondent companies, no longer has any legal right to access the information requested under section 26 of the Companies Act. The information sought does not fall within the scope of company records accessible to non-members or non-directors. The applicant failed to disclose the parting agreement and misrepresented his status in the founding affidavit, which undermined his case. The court held that there is no legal basis for the relief sought, and the application was dismissed with costs.

Court Disposition

Application dismissed with costs.

Orders

  • The application is dismissed with costs.