Cooper NO and Another v Knoop NO and Others (38630/2019)
Cooper NO and Another v Knoop NO and Others (38630/2019) [2019] ZAGPJHC 552 (28 January 2019)
The court found that all affected persons under the business rescue plan have a direct and substantial interest in the relief sought by the applicants and intervening parties. The plan, adopted in terms of the Companies Act, binds all creditors and affected persons, and any order setting aside the plan or requiring repayment of amounts received would materially affect their rights. The applicants failed to properly identify and join all affected persons, rendering the application fatally defective for non-joinder. The point in limine raised by the sixth respondent was upheld, and all applicat…
Source excerpt
- Business Rescue
- Non Joinder
- Companies Act Section 128
- Creditor Rights
- Winding Up
- Affected Persons