National Union of Metal Workers of South Africa v Wilro Supplies CC and Another (34446/2015) [2015] ZAGPPHC 1146 (24 June 2015)
The court found that the applicant had established that the first respondent was financially distressed and that the requirements for commencing business rescue proceedings under section 131(4)(a) of the Companies Act, 71 of 2008, were met. The court exercised its discretion to place the first respondent under...
Source-derived case information.
- Citation
- [2015] ZAGPPHC 1146
- Parties
- Applicant: National Union of Metal Workers of South Africa; Respondent: Wilro Supplies CC; Respondent: Companies and Intellectual Property Commission
- Court
- North Gauteng High Court, Pretoria
- Jurisdiction
- South Africa
- Case Number
- 34446/2015
- Procedural Posture
- Business Rescue Application / Order Granted After Hearing
- Outcome
- Application granted. The first respondent is placed under supervision and business rescue proceedings are commenced. An interim business rescue practitioner is appointed. Costs are to be costs in the business rescue proceedings.
- Legal Topics
- Business Rescue, Companies Act 2008, Appointment of Business Rescue Practitioner
Source-derived case record
Summary, issues, holding and outcome
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Parties
National Union of Metal Workers of South Africa
Applicant
Wilro Supplies CC
Respondent
Companies and Intellectual Property Commission
Respondent
Procedural Posture
Business Rescue Application / Order Granted After Hearing
Legal Issues
- 1 Whether the first respondent should be placed under supervision and business rescue proceedings commenced in terms of section 131(4)(a) of the Companies Act, 71 of 2008.
- 2 Whether an interim business rescue practitioner should be appointed as contemplated by section 131(5) of the Companies Act, 71 of 2008.
- 3 How the costs of the application should be allocated in terms of section 135(3) of the Companies Act, 71 of 2008.
Ratio Decidendi
The court found that the applicant had established that the first respondent was financially distressed and that the requirements for commencing business rescue proceedings under section 131(4)(a) of the Companies Act, 71 of 2008, were met. The court exercised its discretion to place the first respondent under supervision and commence business rescue proceedings. Furthermore, the court appointed Sandra Beswick as the interim business rescue practitioner in accordance with section 131(5) of the Companies Act. The costs of the application were ordered to be costs in the business rescue proceedings as per section 135(3) of the Act.
Court Disposition
Application granted. The first respondent is placed under supervision and business rescue proceedings are commenced. An interim business rescue practitioner is appointed. Costs are to be costs in the business rescue proceedings.
Orders
- The first respondent is placed under supervision and business rescue proceedings are commenced in terms of section 131(4)(a) of the Companies Act, 71 of 2008.
- Sandra Beswick is appointed as the interim business rescue practitioner in respect of the first respondent as contemplated by section 131(5) of the Companies Act, 71 of 2008.
Full Case Text
Judgment text and source record
20 paragraphs
THE HIGH COURT OF SOUTH AFRICA
GAUTENG DIVISION, PRETORIA
CASE NO.: 34446/2015
24/06/2015
In the matter between:
NATIONAL UNION OF METAL WORKERS OF Applicant
SOUTH AFRICA
And
WILRO SUPPLIES CC First Respondent
(Registration No 1992/001262/23)
COMPANIES AND INTELLECTUAL PROPERTY Second Respondent
COMMISSION
DRAFT ORDER
Having heard counsel and having read the papers filed herein an order is granted in the following terms:
1. That the first respondent is placed under supervision and business rescue proceedings are commenced with in terms of the provisions of section 131(4)(a) of the Companies Act, 71 of 2008;
2. That Sandra Beswick is appointed as the Interim business rescue practitioner in respect of the first respondent as contemplated by section 131(5) of the Companies Act, 71 of 2008;
3. That the costs of the application are directed to be costs in the business rescue proceedings in terms of the provisions of section 135(3) of the Companies Act, 71 of 2008.
BY ORDER
___________
THE REGISTRAR