Off-Beat Holiday Club and Another v Sanbonani Holiday Spa Shareblock Limited and Others (CCT106/16)
Off-Beat Holiday Club and Another v Sanbonani Holiday Spa Shareblock Limited and Others (CCT106/16) [2017] ZACC 15; 2017 (7) BCLR 916 (CC); 2017 (5) SA 9 (CC) (23 May 2017)
The Constitutional Court held that claims brought under section 252 of the Companies Act 61 of 1973 for equitable relief do not constitute 'debts' as defined by the Prescription Act 68 of 1969. The Court reasoned that the relief sought is not for payment of money, delivery of goods, or rendering of services, but rather for a judicial determination of fairness in company governance. The wide discretion conferred by section 252 allows the court to consider delay and other factors when granting relief, but does not render the claim susceptible to extinctive prescription. The Court found that the…
Source excerpt
- Companies Act Section 252
- Prescription Act Interpretation
- Minority Shareholder Remedies
- Declaratory Relief
- Access To Courts
- Equitable Remedies