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South Africa decisions
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IX Engineers (Pty) Ltd v September and Another (48047/2021) [2023] ZAGPPHC 1829 (26 September 2023)
The High Court refused leave to amend pleadings to challenge an expert share valuation and dismissed the applicant’s claim with costs.
Horn and Another v Nel and Others (27388/2022; 011316/2022; 25568/2022) [2023] ZAGPPHC 724 (21 August 2023)
The court found that Messrs. Jansen, Nel, and Malan failed to establish good cause to set aside the arbitration agreement under section 3(2) of the Arbitration Act. The arbitrator had already determined that Mr. Pienaar's non-joinder did not preclude the relief sought, as his interest in the proceedings was indirect and not substantial unless a declarator affecting his professional status was sought. The court distinguished the present matter from cases involving third parties with direct interests. Regarding the taxation review, the court held that the arbitrator did not commit gross irregul…
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Tahilram v Trustees of the Lukamber Trust and Another (845/2020) [2021] ZASCA 173; 2022 (2) SA 436 (SCA) (9 December 2021)
The Supreme Court of Appeal held that the shareholders agreement conferred finality on the valuer's determination of the fair market value of the shares. Once the valuer's written valuation report was communicated to the parties, he became functus officio and was not legally entitled to unilaterally withdraw or amend his valuation. The court rejected the majority view in Perdikis v Jamieson, endorsing the minority view and subsequent case law that emphasised certainty and finality in commercial contracts. Only a court may interfere with a valuer's determination, and only on narrow grounds suc…
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Q.R.E and Another (55075/2014), Ex parte [2014] ZAGPPHC 919; 2015 (1) SA 540 (GP) (15 October 2014)
The court found that the applicants failed to provide an independent and credible valuation of their assets, as the valuator did not physically inspect the items and relied solely on information supplied by the applicants, which is insufficient and open to manipulation. The practice of submitting valuations without personal inspection constitutes an abuse of process and undermines the integrity of voluntary surrender applications. The attorney's representation of his fees as 'taxed' was deemed unacceptable and required further investigation. In light of repeated judicial warnings against such…
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Firstrand Bank Ltd v Furtak In re: Ex parte: Furtak (3085/13) [2013] ZAGPJHC 156 (10 May 2013)
High Court refused a voluntary surrender application because the applicant failed to prove advantage to creditors, relying on a deficient valuation report.
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