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South Africa decisions
Decisions matching the current search
Firstrand Bank Limited v Fourie (14892/15) [2018] ZAGPJHC 628 (16 November 2018)
The High Court granted Firstrand Bank's application for provisional sequestration, finding the respondent indebted, factually insolvent, and sequestration beneficial to creditors.
Diener N.O. v Minister of Justice and Others (926/2016) [2017] ZASCA 180; [2018] 1 All SA 317 (SCA); 2018 (2) SA 399 (SCA) (1 December 2017)
The SCA held that a business rescue practitioner has no super-preference over secured creditors on liquidation, must prove a claim, and liquidation runs from the winding-up application date.
South African Property Owners Association v Minister of Trade and Industry and Others (66068/2016) [2016] ZAGPPHC 1148; 2018 (2) SA 523 (GP) (29 November 2016)
The High Court held that lease-related rent, rates, utilities and similar charges are not post-commencement financing or business rescue costs under section 135.
Dale v Aernoastic Properties Ltd (9297/2016) [2016] ZAWCHC 160; 79 SATC 12 (25 October 2016)
The court found that the applicant failed to provide sufficient factual evidence to support a reasonable prospect of rescuing the first respondent or achieving a better return for creditors than liquidation. The valuation report relied upon was outdated, unsworn, and speculative, and no concrete evidence was presented to substantiate the claims of undervaluation or alternative asset realization. The tax dispute with SARS was settled and final, and the claim remained part of the financial distress calculation. The application for postponement was not formally made and was viewed as a further a…
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Commissioner, South African Revenue Service v Van der Merwe and Others (598/2015) [2016] ZASCA 138; 2017 (3) SA 34 (SCA); [2017] 2 All SA 335 (SCA); 79 SATC 283 (29 September 2016)
The Supreme Court of Appeal held that the Customs and Excise Act and the VAT Act do not create an embargo preventing liquidators from taking possession of company property prior to the payment of customs duty and VAT. The statutory lien granted to SARS under the Customs Act serves only as additional security and does not override the ranking of claims established by the Insolvency Act. The court found no express or implied provision in either the Customs Act or the Insolvency Act that excludes goods subject to SARS liens from being dealt with under insolvency law. The interpretation advanced…
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Nel NO v Body Corporate of the Seaways Building and Another (45/94) [1995] ZASCA 83; 1996 (1) SA 131 (SCA); (25 August 1995)
The court held that pre-liquidation sectional title levies remained due, so transfer could be withheld until the body corporate was paid or satisfied.
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