South Africa Case Law

Business Partners Limited v Montache Villas (Pty) Ltd (62454/2021)

Business Partners Limited v Montache Villas (Pty) Ltd (62454/2021) [2023] ZAGPPHC 1147 (6 September 2023)

Court

North Gauteng High Court, Pretoria

Case number

62454/2021

Judge

A Vorster

The respondent failed to repay the loan and royalties due to the applicant, and statutory demand was served and not met. The respondent is commercially insolvent, unable to pay its debts as they fall due, and has no cash or expendable capital to satisfy the applicant's claims. The respondent's opposition based on intended business rescue proceedings is legally untenable, as such proceedings had not commenced and no cogent evidence was provided of a reasonable prospect of rescue. The respondent's assertion of factual solvency is irrelevant where commercial insolvency is established. The applic…

Source excerpt

• Winding Up Of Company
• Commercial Insolvency
• Business Rescue Proceedings
• Creditor Entitlement
• Court Discretion In Liquidation

Solotrade 1088 (Pty) Ltd v Kortec Auto (Pty) Ltd (M486/2019)

Solotrade 1088 (Pty) Ltd v Kortec Auto (Pty) Ltd (M486/2019) [2021] ZANWHC 80 (23 November 2021)

Court

North West High Court, Mafikeng

Case number

M486/2019

Judge

R D Hendricks

The court found that the respondent is commercially insolvent, as it cannot pay its admitted debt to the applicant and its liabilities exceed its assets. The technical requirements for the liquidation application were met, and the respondent's financial position, despite some improvement, remains insufficient to discharge its debt. Although the respondent pleaded for the court to exercise its discretion against liquidation due to the interests of other creditors and employees, the court determined that a provisional liquidation order is appropriate. This allows interested parties, including o…

Source excerpt

• Company Liquidation
• Commercial Insolvency
• Creditor Petition
• Court Discretion In Liquidation
• Service Requirements
• Costs In Liquidation

Absa Bank Ltd v Curtain Warehouse Franchise (Pty) Ltd (21743/2010)

Absa Bank Ltd v Curtain Warehouse Franchise (Pty) Ltd (21743/2010) [2010] ZAWCHC 617 (9 December 2010)

Court

Western Cape High Court, Cape Town

Case number

21743/2010

Judge

Louw

The court granted provisional liquidation after finding the respondent had not rebutted insolvency and that a conditional sale and guarantee did not secure payment.

• Provisional Liquidation
• Statutory Demand
• Companies Act 1973
• Secured Creditor Rights
• Court Discretion In Liquidation
• Provisional-liquidation