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South Africa decisions
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Gewu v Mbanzeni and Another (25136/2019) [2020] ZAGPJHC 21 (31 January 2020)
The High Court ordered transfer of 40% of a company’s shares to the applicant, treated the agreement as unconditional on vesting, and granted related shareholder access relief.
Otto v Scholtz and Others (3259/2015) [2016] ZAGPPHC 140 (23 February 2016)
The court finds that the abstract theory of ownership, which requires delivery and a valid real agreement but not a formally valid underlying contract, should apply to the transfer of shares in South African law. However, there is a material dispute of fact on the papers regarding the intention of the parties and the terms of the real agreement. The applicant maintains that no agreement was concluded and no payment made, while the respondents assert that an oral or tacit agreement existed and that ownership was intended to pass. Given the conflicting versions and the inability to resolve the…
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