South Africa Case Law

Piper and Another v Glosam Manganese (Pty) Ltd and Others (2024/069923; 2024/053300)

Piper and Another v Glosam Manganese (Pty) Ltd and Others (2024/069923; 2024/053300) [2025] ZAGPJHC 63 (10 January 2025)

Court

South Gauteng High Court, Johannesburg

Case number

2024/069923; 2024/053300

Judge

Fisher

The court found that Glosam Manganese (Pty) Ltd is financially distressed, with substantial debts and no income due to the unlawful diversion of funds by Piper and Neethling. The procedural requirements for business rescue under section 129 were met, and any minor non-compliance was not prejudicial. The allegations of conspiracy and lack of independence or skill on the part of the BRPs were not established on the papers. The application to set aside the business rescue resolution and remove the BRPs was dismissed. The business rescue application for Wepex Trading (Pty) Ltd was also dismissed,…

Source excerpt

• Business Rescue
• Companies Act Section 129
• Companies Act Section 130
• Financial Distress
• Director Fiduciary Duties
• Costs Punitive

Volkar N.O and Others v Big Sky Trading 219 CC and Another (12601/23)

Volkar N.O and Others v Big Sky Trading 219 CC and Another (12601/23) [2024] ZAKZPHC 40 (24 April 2024)

Court

Kwazulu-Natal High Court, Pietermaritzburg

Case number

12601/23

Judge

Pietersen AJ

The court found that the failure to join creditors was fatal because the relief sought would directly and substantially affect their rights, distinguishing the present matter from authorities cited by the applicants. The court held that the alternative remedies available to the applicants, including review under section 130(1)(a)(ii) of the Companies Act and the ability to move for amendments at the section 151 meeting, were adequate. The applicants did not demonstrate that there are conflicting judgments or issues of substantial importance requiring leave to appeal. The threshold for grantin…

Source excerpt

• Business Rescue
• Non Joinder
• Adequate Alternative Remedy
• Companies Act Section 130
• Joinder Of Creditors

Cordeiro Holdings CC and Others v Market Demand Trading 254 (Pty) Ltd and Others (2016/24747)

Cordeiro Holdings CC and Others v Market Demand Trading 254 (Pty) Ltd and Others (2016/24747) [2016] ZAGPJHC 284 (6 September 2016)

Court

South Gauteng High Court, Johannesburg

Case number

2016/24747

Judge

Roland Sutherland

The High Court set aside two companies’ business rescue resolutions and placed them under provisional winding up, finding no reasonable prospect of rescue.

• Business Rescue
• Companies Act Section 129
• Companies Act Section 130
• Companies Act Section 150
• Conversion To Liquidation
• Creditor Rights