Adelakun N.O and Another v Worldpay LLC (3484/19 and 3485/19)
Adelakun N.O and Another v Worldpay LLC (3484/19 and 3485/19) [2024] ZAWCHC 129 (26 April 2024)
The court found that the applicants, including Mr. Adelakun, the Trust, Touch of Fame Group, and Touch of Energy Corporation, failed to establish any exceptional circumstances or bona fide defence that would justify rescission of the sequestration orders under section 149(2) of the Insolvency Act or Rule 42(1)(a). The applicants had fully participated in the original proceedings, were legally represented, and had unsuccessfully appealed the orders to the Supreme Court of Appeal and Constitutional Court. The alleged exoneration in foreign criminal proceedings was irrelevant to the civil standa…
Source excerpt
- Sequestration Orders
- Rescission Application
- Jurisdiction Challenge
- Abuse Of Process
- Creditor Claims
- Company Representation