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South Africa decisions
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Zoomlion Capital South Africa (Pty) Ltd v Ferreira and Another (1710/2023) [2024] ZAECQBHC 78 (10 December 2024)
The High Court granted provisional sequestration of the respondents’ joint estate, finding a liquidated claim, factual insolvency, and likely benefit to creditors.
First Rand Bank Limited v Basson N.O and Another (A23/106542) [2024] ZAGPJHC 1250 (29 November 2024)
The court found that there was a material dispute of fact regarding the valuation of the Trust's assets, specifically the immovable and movable properties. The expert affidavits submitted by both parties were at odds, with significant differences in the estimated values. These disputes could not be resolved on the papers in motion proceedings. The court held that the appellant failed to establish factual insolvency of the Trust on the available evidence. As the central issue of factual insolvency could not be determined without oral evidence, the appeal was dismissed. The court did not consid…
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Wellington Retreading (Pty) Ltd and Another v Swart and Another (14567/2024) [2024] ZAWCHC 292 (8 October 2024)
The court found that the Applicants established a prima facie case for sequestration under section 9(1) of the Insolvency Act. The First Respondent's liabilities exceeded her assets, and she failed to provide credible evidence of solvency or to rebut the inference of insolvency. The Applicants' claims were undisputed, and the First Respondent admitted indebtedness but could not pay. The court held that sequestration would be to the advantage of creditors, as there was a reasonable prospect of pecuniary benefit and equitable distribution. The First Respondent's opposition was unsubstantiated a…
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Standard Bank of South Africa Ltd v Higgs and Another (11521/2021) [2024] ZAWCHC 250 (5 September 2024)
The court found that the First Respondent failed to provide a reasonable and sufficient explanation for the delay in filing the application for leave to appeal. The explanations based on ill health and financial difficulties were inadequately substantiated and did not account for the entire period of delay. The court held that the true motivation for the belated application was the imminent eviction process, not genuine prospects of success on appeal. The principle of finality would be undermined if condonation were granted in these circumstances. The court refused condonation and, as a resul…
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Firstrand Bank Limited v Stand 638 Kyalami Estates (Pty) Ltd (44573/2020) [2024] ZAGPJHC 819 (22 August 2024)
The applicant established, through undisputed evidence, that the respondent failed to pay a debt due and owing under a facility agreement and suretyship, despite proper notice in terms of section 345 of the Companies Act. The respondent's opposition was not properly authorised and lacked substantive evidence, including financial statements. The court found that the respondent's factual insolvency was demonstrated and that it is just and equitable to grant a provisional liquidation order to ensure proper investigation and equitable distribution among creditors. The respondent's arguments regar…
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Anthill Development (Pty) Ltd v Redant Developments (Pty) Ltd and Another (3834/2023) [2024] ZAFSHC 240 (12 August 2024)
The High Court granted final liquidation of Redant Developments after finding Anthill proved a debt, no bona fide dispute, and commercial insolvency.
Nedbank Ltd v Masiza (072949-2023) [2024] ZAGPPHC 479 (15 May 2024)
The High Court granted provisional sequestration after finding Nedbank had proved its claim, the respondent was factually insolvent, and creditors might benefit.
Knoop NO and Others v SAFIC (Pty) Ltd (2023/038511) [2023] ZAGPJHC 867 (3 August 2023)
The High Court provisionally wound up SAFIC (Pty) Ltd, finding the alleged transfer of a R22 million debt ineffective and the respondent insolvent.
Commissioner for The South African Revenue Service v Matsepe (40873/20) [2022] ZAGPPHC 801 (27 October 2022)
The court found that the respondent's liabilities, primarily the final and binding SARS tax and VAT assessments, far exceeded his assets, rendering him factually insolvent. The respondent failed to object to the assessments within the prescribed period, and the default judgment remains extant. The opposition based on non-joinder of Moshate was dismissed as the debt arose in the respondent's personal capacity. The Badenhorst principle was found inapplicable, as the debt was not bona fide disputed. The respondent's argument regarding VAT exemption was rejected, as the services rendered were not…
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Schnell NO and Others v FMI Trading (Pty) Ltd (60068/19) [2022] ZAGPPHC 387 (2 June 2022)
The High Court granted a provisional winding-up order against FMI Trading (Pty) Ltd after finding the company was factually insolvent and the fourth applicant was a creditor.
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