Vlok and Others v Georgiou and Others (80811/2014)
Vlok and Others v Georgiou and Others (80811/2014) [2019] ZAGPPHC 953; [2020] 1 All SA 884 (GP) (10 December 2019)
The court found that the applicants satisfied the requirements for certification of a class action. The class of investors in HS 21 and HS 22 is objectively identifiable by reference to their participation in buy-back agreements. There is sufficient commonality of issues, as all claims arise from the same contractual terms. The opt-in and registration fee model, though imperfect, is justified by the practical necessity of funding the litigation and is the only viable option to allow the class action to proceed. The applicants and their attorneys are suitable representatives, having demonstrat…
Source excerpt
- Class Action Certification
- Buy Back Agreements
- Scheme Of Arrangement
- Business Rescue
- Opt In Class Definition
- Funding Model For Class Action