Knipe and Others v Kameelhoek (Pty) Ltd and Another, Knipe and Others v Schaapplaats 978 (Pty) Ltd and Another (1936 /2011, 1937/2011)
Knipe and Others v Kameelhoek (Pty) Ltd and Another, Knipe and Others v Schaapplaats 978 (Pty) Ltd and Another (1936 /2011, 1937/2011) [2013] ZAFSHC 108; 2014 (1) SA 52 (FB) (27 June 2013)
The court found that the relationship of trust and confidence among the shareholders of the companies had irretrievably broken down, rendering the companies unmanageable as domestic family entities. The companies were property-holding and did not conduct trading activities, making liquidation analogous to a forced sale among co-owners. The evidence did not support the contention that Carol was solely responsible for the breakdown, nor did it disturb the findings of the Full Bench. Offers to purchase Carol's shares were not bona fide and did not provide a viable alternative to liquidation. The…
Source excerpt
- Just And Equitable Winding Up
- Domestic Company Dispute
- Section 163 Companies Act
- Shareholder Oppression
- Family Company Breakdown