Questek Transit Technologies (Pty) Ltd v Lumen Technologies CC; InRe: Lumen Technologies CC v Questek Transit Technologies (Pty) Ltd and Another (19604/2013)
Questek Transit Technologies (Pty) Ltd v Lumen Technologies CC; InRe: Lumen Technologies CC v Questek Transit Technologies (Pty) Ltd and Another (19604/2013) [2014] ZAWCHC 90 (12 June 2014)
The court found that Lumen failed to establish a common mistake justifying rescission of the order under Rule 42(1)(c) or the common law ground of justus error. Both parties were unaware of the four-month time limit for the arbitration award, but this did not amount to a material mistake excluding consensus. The court held that agreements reached between legal representatives and made orders of court are binding and should be enforced. The court granted Questek's counter-application to extend the period for making the arbitration award under section 23 of the Arbitration Act, finding good cau…
Source excerpt
- Provisional Liquidation
- Arbitration Award Extension
- Rescission Of Order
- Commercial Insolvency
- Creditor Winding Up
- Costs De Bonis Propriis