Smith and Others v One Vision Investments 344 (Pty) Ltd (76711/2014) [2020] ZAGPPHC 316 (25 June 2020)

Smith and Others v One Vision Investments 344 (Pty) Ltd (76711/2014) [2020] ZAGPPHC 316 (25 June 2020)

The court found that there was no reasonable prospect that the appeal would succeed. The suspensive conditions in the contract were fulfilled, either expressly or by equivalent acts, as evidenced by the conduct of the parties. Mr Smith's resignation as director was validly effected by oral notice, and there is no legal requirement for formal notification to the CIPC for such resignation to be valid. The court's order regarding payment was consistent with the pleadings and the terms of the MOU, and the amount was determined by an auditor. The application of estoppel and waiver was supported by the evidence. The objections raised by Mr Smith in his submissions did not disclose any basis for...

Citation
[2020] ZAGPPHC 316
Parties
Applicant: Ralston Emmanuel Smith; Applicant: Money Box Investments 225 (Pty) Ltd; Applicant: Carl Jacobus Potgieter; Applicant: Marius Nieuwoudt; Applicant: Laurence Stephen Bird; Applicant: Theodorus Bleeker; Applicant: Sarel Johannes van Heerden; Applicant: Finishing Touch 304 (Pty) Ltd; Applicant: Muraiball Investments (Pty) Ltd; Applicant: David Gleason Developments (Pty) Ltd; Applicant: Global Security Internet Infrastructure (Pty) Ltd; Applicant: Ramesh Singh; Respondent: One Vision Investments 344 (Pty) Ltd
Court
North Gauteng High Court, Pretoria
Jurisdiction
South Africa
Judgment Date
25 June 2020
Case Number
76711/2014
Procedural Posture
Leave to Appeal / Application for Leave to Appeal Following Judgment
Outcome
Application for leave to appeal dismissed with costs.
Judges
RG Tolmay
Legal Topics
Leave to Appeal, Contractual Conditions, Director Resignation, Estoppel, Waiver, Payment of Costs
Civil Procedure Commercial and Corporate Leave to Appeal Contractual Conditions Director Resignation Estoppel Waiver Payment of Costs

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Parties

Ralston Emmanuel Smith

Applicant

Money Box Investments 225 (Pty) Ltd

Applicant

Carl Jacobus Potgieter

Applicant

Marius Nieuwoudt

Applicant

Laurence Stephen Bird

Applicant

Theodorus Bleeker

Applicant

Sarel Johannes van Heerden

Applicant

Finishing Touch 304 (Pty) Ltd

Applicant

Muraiball Investments (Pty) Ltd

Applicant

David Gleason Developments (Pty) Ltd

Applicant

Global Security Internet Infrastructure (Pty) Ltd

Applicant

Ramesh Singh

Applicant

One Vision Investments 344 (Pty) Ltd

Respondent

Procedural Posture

Leave to Appeal / Application for Leave to Appeal Following Judgment

Legal Issues

  1. 1 Whether leave to appeal should be granted based on reasonable prospects of success.
  2. 2 Whether the suspensive conditions in the contract were fulfilled.
  3. 3 Whether Mr Smith validly resigned as director and transferred shares.

Ratio Decidendi

The court found that there was no reasonable prospect that the appeal would succeed. The suspensive conditions in the contract were fulfilled, either expressly or by equivalent acts, as evidenced by the conduct of the parties. Mr Smith's resignation as director was validly effected by oral notice, and there is no legal requirement for formal notification to the CIPC for such resignation to be valid. The court's order regarding payment was consistent with the pleadings and the terms of the MOU, and the amount was determined by an auditor. The application of estoppel and waiver was supported by the evidence. The objections raised by Mr Smith in his submissions did not disclose any basis for...

Court Disposition

Application for leave to appeal dismissed with costs.

Orders

  • The application for leave to appeal is dismissed with costs.