South Africa Case Law

African Zaibatsu Corporation Ltd and Another v Industrial Development Corporation of South Africa Ltd (2021/8337)

African Zaibatsu Corporation Ltd and Another v Industrial Development Corporation of South Africa Ltd (2021/8337) [2024] ZAGPJHC 1012; [2024] 4 All SA 739 (GJ) (7 October 2024)

Court

South Gauteng High Court, Johannesburg

Case number

2021/8337

Judge

Siwendu

The Court found that the IDC did not repudiate the loan agreement. The plaintiffs consented to the review and valuation process, and the IDC's conduct in delaying registration of the SNB and communicating a reduced valuation was commercially reasonable and consistent with the terms of the loan agreement, which allowed for review in the event of a material adverse event. The cancellation of the sale agreement by Jasco occurred before the IDC communicated its revised valuation, and the plaintiffs failed to prove that the IDC's conduct was the cause of the cancellation. The damages claimed were…

Source excerpt

• Repudiation Of Contract
• Loan Agreement
• Damages Quantification
• Material Adverse Event
• Competition Approval
• Delictual Liability

TP Hentiq 6159 (Pty) Ltd v Xeedan Property Portfolio (45/LM/Jun11)

TP Hentiq 6159 (Pty) Ltd v Xeedan Property Portfolio (45/LM/Jun11) [2011] ZACT 75 (3 October 2011)

Court

Competition Tribunal

Case number

45/LM/Jun11

Judges

Norman Manoim, Andreas Wessels, Yasmin Carrim

The Competition Tribunal unconditionally approved TP Hentiq’s acquisition of Xeedan Property Portfolio, finding no substantial lessening of competition or public interest concerns.

• Property Merger
• Market Share Assessment
• Horizontal Overlap
• Public Interest
• Competition Approval
• Competition-law