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South Africa decisions
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Klopper N.O and Others v Naka Diamonds (Pty) Ltd and Another (14246/2020) [2020] ZAGPJHC 410 (24 November 2020)
The court held that the joint venture agreement was terminated before business rescue began and ordered each party to bear its own costs.
Solidarity obo Fourie and Others v Vanchem Vanadium Products (Pty) Ltd and Others; National Union of Metalworkers (NUMSA) obo Members v Vanchem Vanadium Products (Pty) Ltd and Another (J385/16; J393/16) [2016] ZALCJHB 106 (22 March 2016)
Labour Court dismissed union challenges to retrenchments at Vanchem, finding the consultation process fair and rejecting a late section 136 Companies Act argument.
Homez Trailers And Bodies (Pty) v Standard Bank of South Africa Ltd (35201/2013) [2013] ZAGPPHC 465 (27 September 2013)
The court held that the applicant failed to comply with the peremptory requirements of section 129(3) of the Companies Act by not notifying the respondent, an affected person, within five business days of the business rescue resolution. This failure rendered the resolution a nullity in terms of section 129(5), and the application was dismissed on this basis. Even if the point in limine were incorrect, the court found that section 136(2)(a) only allows the business rescue practitioner to suspend the company's obligations, not those of the respondent, and does not empower the practitioner to co…
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