Barbaglia N.O and Others v Noble Land (Pty) Ltd and Others (A5041/2020)
Barbaglia N.O and Others v Noble Land (Pty) Ltd and Others (A5041/2020) [2021] ZAGPJHC 85 (24 June 2021)
The court found that Noble Land is solvent, with assets far exceeding liabilities, and that its monthly expenses are met. However, the relationship between the two main shareholders/directors, Michael and Gregory Barbaglia, has irretrievably broken down, resulting in a deadlock that prevents the company from functioning as intended. The court held that the failure to plead under the correct Companies Act was not fatal, as the just and equitable ground for winding-up is available under both the 1973 and 2008 Acts, and the facts and contentions were sufficiently established. The court exercised…
Source excerpt
- Just And Equitable Winding Up
- Deadlock In Management
- Company Solvent
- Family Business Dispute
- Oppressive Conduct
- Universal Partnership