Nyhonyha and Others v Venter N.O and Others (35508/20)
Nyhonyha and Others v Venter N.O and Others (35508/20) [2021] ZAGPJHC 20; [2021] 2 All SA 507 (GJ) (22 January 2021)
The court found that Regiments Capital (Pty) Ltd, after considering all assets including shareholdings in Coral, Kgoro, and Little River, is commercially solvent and able to pay all creditors, including SARS, once its tax assessment is issued. The applicants provided undertakings that related creditors would be paid only after external creditors and SARS are satisfied. The conduct of Regiments' directors and attorneys was criticised for lack of transparency and failure to comply with statutory obligations, but this did not preclude relief. The Tate report was found lacking in detail but, toge…
Source excerpt
- Setting Aside Winding Up
- Companies Act Section 354
- Creditor Priority
- Capital Gains Tax
- Commercial Morality
- Tax Assessment Liability