SA Truck Bodies (Pty) Ltd v Moodliar NO and Others (5255/2006)
SA Truck Bodies (Pty) Ltd v Moodliar NO and Others (5255/2006) [2010] ZAWCHC 13 (11 February 2010)
The applicant established, by credible testimony and respondents' admission, that the liquidators will be unable to pay costs if unsuccessful. The court weighed the injustice to the applicant of being exposed to irrecoverable costs against the potential prejudice to the respondents if security is ordered. The respondents failed to provide evidence of attempts to raise funds for security and were unforthcoming about litigation funding. Although there was delay in bringing the application, the court found it not materially prejudicial given the overlap of issues in the withdrawn and pending act…
Source excerpt
- Security For Costs
- Companies Act Section 13
- Liquidation
- Rule 47 Uniform Rules
- Access To Court
- Balancing Of Equities