Veraison (Pty) Ltd and Another v Mazars Corporate Finance (Pty) Ltd and Others (2174/2021) [2021] ZAGPJHC 849 (24 December 2021)

Veraison (Pty) Ltd and Another v Mazars Corporate Finance (Pty) Ltd and Others (2174/2021) [2021] ZAGPJHC 849 (24 December 2021)

The respondents failed to provide a full and satisfactory explanation for their late postponement application and the delay in instituting their new application. The history of delay and lack of bona fide justification indicated a tactical attempt to further delay the valuation process mandated by the arbitration award, now an order of court. The interests of justice and the prejudice to the applicants outweighed any alleged uncertainty raised by the respondents. The arbitration award is final and binding, and Mazars is obliged to complete the valuation process. The main application for an order compelling Mazars to proceed is granted, and the respondents are ordered to pay costs on a...

Citation
[2021] ZAGPJHC 849
Parties
Applicant: Veraison (Pty) Ltd; Applicant: Tropical Paradise Trading 165 (Pty) Ltd; Respondent: Mazars Corporate Finance (Pty) Ltd; Respondent: Busamed Gateway Private Hospital (Pty) Ltd; Respondent: Busamed Healthcare (Pty) Ltd; Respondent: Busamed (Pty) Ltd
Court
South Gauteng High Court, Johannesburg
Jurisdiction
South Africa
Judgment Date
24 December 2021
Case Number
2174/2021
Procedural Posture
Civil Application / Opposed Motion Court; Application for Postponement and Main Application for Order to Compel Compliance With Arbitration Award
Outcome
The application for postponement is refused. The main application is granted, compelling Mazars to complete the valuation process as ordered in the arbitration award. Costs are awarded against the respondents on an attorney and client scale for the postponement application and on a party and party scale for the main...
Judges
R Keightley
Legal Topics
Arbitration Award Enforcement, Postponement Application, Settlement Agreement, Costs Order, Specific Performance
Civil Procedure Commercial and Corporate Arbitration Award Enforcement Postponement Application Settlement Agreement Costs Order Specific Performance

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Parties

Veraison (Pty) Ltd

Applicant

Tropical Paradise Trading 165 (Pty) Ltd

Applicant

Mazars Corporate Finance (Pty) Ltd

Respondent

Busamed Gateway Private Hospital (Pty) Ltd

Respondent

Busamed Healthcare (Pty) Ltd

Respondent

Busamed (Pty) Ltd

Respondent

Procedural Posture

Civil Application / Opposed Motion Court; Application for Postponement and Main Application for Order to Compel Compliance With Arbitration Award

Legal Issues

  1. 1 Whether the respondents have shown good cause for a postponement of the main application.
  2. 2 Whether the main application for an order compelling Mazars to complete the valuation process should be granted.
  3. 3 Whether the respondents' new application constitutes a bona fide dispute or a tactical delay.

Ratio Decidendi

The respondents failed to provide a full and satisfactory explanation for their late postponement application and the delay in instituting their new application. The history of delay and lack of bona fide justification indicated a tactical attempt to further delay the valuation process mandated by the arbitration award, now an order of court. The interests of justice and the prejudice to the applicants outweighed any alleged uncertainty raised by the respondents. The arbitration award is final and binding, and Mazars is obliged to complete the valuation process. The main application for an order compelling Mazars to proceed is granted, and the respondents are ordered to pay costs on a...

Court Disposition

The application for postponement is refused. The main application is granted, compelling Mazars to complete the valuation process as ordered in the arbitration award. Costs are awarded against the respondents on an attorney and client scale for the postponement application and on a party and party scale for the main...

Orders

  • The application by the second to fourth respondents for postponement of the main application is dismissed with costs on an attorney and client scale.
  • Mazars Corporate Finance (Pty) Ltd is directed to forthwith deal with the valuation of the Consultancy Services Agreement as ordered in paragraph 133.2 of the arbitration award and provide the parties with the Valuation Report in terms of clause 4.1.2.3.2 of the Settlement Agreement within 10 days of the court order.