Hennie Lambrechts Architects v Bombenero Investments (Pty) Ltd (A49/2013)
Hennie Lambrechts Architects v Bombenero Investments (Pty) Ltd (A49/2013) [2014] ZAFSHC 15; 2015 (6) SA 375 (FB) (20 February 2014)
The majority held that, despite the omission of section 13 in the new Companies Act, the High Court retains the inherent power to order an incola company to furnish security for costs where the circumstances justify such an order. The court found that the respondent failed to provide credible evidence of its ability to pay costs and did not act bona fide in refusing to disclose financial statements or prove ownership of assets. The court determined that the common law should be developed to allow for judicial discretion in ordering security for costs against incola companies, aligning with th…
Source excerpt
- Security For Costs
- Companies Act 1973 Section 13
- Companies Act 2008
- Development Of Common Law
- Access To Court
- Rule 47 Application