Daxmollie Bae (Pty) Ltd v Mimarkits Company (Pty) Ltd (1730/24P) [2024] ZAKZPHC 120 (8 November 2024)
Court
Kwazulu-Natal High Court, Pietermaritzburg
Case number
1730/24P
Judge
Van Rooyen AJ
Minority shareholder relief under section 163 was refused where the applicant failed to show oppressive or unfairly prejudicial conduct and had approved the financial statements.
Letsobana v Africabin Building Systems (Pty) Ltd (52790/2021) [2022] ZAGPJHC 368 (10 May 2022)
Court
South Gauteng High Court, Johannesburg
Case number
52790/2021
Judge
Oosthuizen-Senekal CSP
The applicant, as a shareholder and director, has a statutory right under section 26 of the Companies Act to access certain company records, specifically those listed in section 26(1). The court found that the applicant's request for records beyond those enumerated in section 26 was not supported by the Act. The applicant's reliance on PAJA was rejected because she did not comply with its procedural requirements, and her notices were framed solely under the Companies Act. The respondent is obliged to provide the records specified in section 26, but not the additional documents sought. Given t…
Basson and Another v Pentagon Financial Solutions (Pretoria) (Pty) Ltd and Another (13917/20) [2022] ZAWCHC 45 (14 February 2022)
Court
Western Cape High Court, Cape Town
Case number
13917/20
Judge
Ndita
The court found that the Applicants remain the registered shareholders and owners of their shares in the Respondent companies, as no transfer has been entered in the companies' certificated security registers. The settlement agreement relied upon by the Respondents was rescinded by the Applicants due to fraud, rendering it void from inception. Accordingly, the Applicants retain their beneficial interest and statutory rights under sections 26 and 31 of the Companies Act to access company records. The Trust is properly before the court, as the remaining trustees acted unanimously and the resign…
Letanta v Standard Bank (Pty) Ltd and Others (5125/2017) [2018] ZAFSHC 147 (7 June 2018)
Court
Free State High Court, Bloemfontein
Case number
5125/2017
Judge
Mhlambi
The court found that the applicant failed to establish a statutory or contractual right to the documents sought. The company did not comply with its statutory obligations to keep proper records, and no mandate was given to any director to maintain such records. The applicant did not formulate his application under section 163 of the Companies Act and did not demonstrate oppressive or prejudicial conduct. The applicant's reliance on Makanda was misplaced, as the facts and statutory basis differed. The applicant disregarded the legal personality of the company and pursued a partnership relation…
Letanta v Standard Bank (Pty) Ltd and Others (5125/2017) [2018] ZAFSHC 103 (7 June 2018)
Court
Free State High Court, Bloemfontein
Case number
5125/2017
Judge
Mhlambi
The High Court dismissed an application by a shareholder-director seeking company bank statements and financial records, finding no proper statutory basis for the relief.
Pretorius and Another v PB Meat (Pty) Ltd and Another (1057/2013) [2017] ZAWCHC 104 (14 June 2017)
Court
Western Cape High Court, Cape Town
Case number
1057/2013
Judge
J I Cloete
The court held that the applicants, in their capacities as directors, were not entitled to the requested documents as of right, since their purpose was not to manage the affairs of the company but to defend themselves against removal. The specificity requirement under section 71(4)(a) of the Companies Act was interpreted to mean that the company must provide sufficiently detailed reasons to enable the directors to mount a response, but not to require the production of all underlying documents or a full forensic audit. The applicants had been provided with the telephone recordings and particul…
Nova Property Group Holdings v Cobbett (20815/2014) [2016] ZASCA 63; [2016] 3 All SA 32 (SCA); 2016 (4) SA 317 (SCA) (12 May 2016)
Court
Supreme Court of Appeal
Case number
20815/2014
Judges
Maya, Majiedt, Mbha, Plasket, Kathree-Setiloane
The Supreme Court of Appeal held that the interlocutory order dismissing the application to compel discovery was appealable under s 17(1) of the Superior Courts Act, given the conflicting judgments on the interpretation of s 26(2) of the Companies Act and the interests of justice. On the merits, the court found that s 26(2) confers an unqualified right of access to a company's securities register, and the motives of the requester are irrelevant. The right is not subject to the provisions of PAIA, as s 26(7) makes it additional to PAIA rights. The court rejected the Companies' argument that pr…
Monique Investments (Pty) Ltd v 167 Bree Street Newtown (Pty) Ltd and Others (2014/3306) [2015] ZAGPJHC 232 (10 April 2015)
Court
South Gauteng High Court, Johannesburg
Case number
2014/3306
Judge
Van Niekerk
The High Court dismissed an application for access to company records under PAIA and the Companies Act after finding the applicant lacked standing as a shareholder.
Makanda and Others v Afrinnai Health (Pty) Ltd and Another (3590/2014) [2015] ZAFSHC 6 (5 February 2015)
Court
Free State High Court, Bloemfontein
Case number
3590/2014
Judge
Naidoo
Shareholders obtained an order compelling a company to produce records, financial statements, and bank statements under the Companies Act, with costs awarded against both respondents.
