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South Africa decisions
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Audacia Stellenbosch Market (Pty) Ltd v Downing Investments CC and Another (8552/21) [2022] ZAWCHC 66 (3 May 2022)
The High Court refused leave to appeal in a winding-up dispute, holding that authority and standing were not established and no reasonable prospects existed.
Seete v Tshiamo Resources (PTY) Ltd and Another (M121/2018) [2022] ZANWHC 15 (16 March 2022)
The court dismissed a winding-up application based on alleged deadlock and oppression, and granted a counter-application ordering repayment of R84,500 and cancellation of the applicant’s shares.
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
Botha and Another v Adroit Communications (Pty) Ltd (21203/2014) [2014] ZAGPPHC 385 (17 June 2014)
The High Court ordered Adroit Communications wound up on a just and equitable basis because of complete deadlock between directors and shareholders.
Molokoane v Diversified Power & Systems Integration (Pty) Ltd (3235/09) [2009] ZAKZDHC 70 (18 November 2009)
The court dismissed an opposed just-and-equitable winding-up application, finding no prima facie case and no basis to refer factual disputes to oral evidence.
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