Eskom Holdings Limited v Transdeco GTMH (Pty) Ltd and Another (16364/2013)
Eskom Holdings Limited v Transdeco GTMH (Pty) Ltd and Another (16364/2013) [2014] ZAGPJHC 89 (7 March 2014)
The court held that the applicant had not abandoned its claim against the first respondent, as its continued pursuit of the claim in arbitration and the liquidators' involvement indicated ongoing intent. The statutory framework of section 359(2)(b) provides a remedy for parties who failed to give timeous notice, and the liquidators cannot waive the defence under section 359(2)(a). The right to bring this application is not a debt and is not subject to prescription. The first respondent's opposition was found to be vexatious, given its knowledge of the applicant's claim and its flawed reliance…
Source excerpt
- Companies Act 1973 Section 359
- Liquidation Procedure
- Arbitration Pending Liquidation
- Waiver Of Defence
- Prescription Act Application