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LSO Consulting Engineers (Pty) Ltd and Another v Ndyamara and Others (56620/2021) [2022] ZAGPPHC 168 (23 March 2022)
The High Court refused leave to appeal, holding there were no reasonable prospects of success against its ruling on section 133 and amendment of a business rescue plan.
LSO Consulting Engineers (Pty) Ltd and Another v Ndyamara and Others (56620/21) [2022] ZAGPPHC 49 (26 January 2022)
The court held that the Companies Act does not provide for the amendment of a business rescue plan once it has been finally adopted by the required majority of creditors. Any provision in the plan purporting to give the business rescue practitioner the right to amend the plan after adoption is invalid and contrary to the statutory scheme, which vests control in the creditors through a democratic voting process. The purported amendment was not validly adopted, as it did not receive the statutorily required 75% majority vote. The application to set aside the amendments was therefore granted, an…
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