Neo Thando Holdings (Pty) Ltd v Elliot Mobility (Pty) Ltd and Another (008808/2022) [2023] ZAGPPHC 2022 (1 December 2023)
Court
North Gauteng High Court, Pretoria
Case number
008808/2022
Judge
Francis-Subbiah
The court found that the deadlock between directors and shareholders in NTEM prevents the company from defending the action proceedings, risking default judgment and financial prejudice to both NTEM and Neo Thando. Neo Thando, as majority shareholder and director, demonstrated a direct and substantial interest in the outcome, satisfying the requirements for intervention. The court exercised its discretion under section 358 of the Companies Act, 1973 to stay the proceedings, finding it equitable given the pending liquidation appeal and the unresolved financial disputes. The intervention would…