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Strydom N.O and Others v Le Roux - Reasons (2613/2022) [2023] ZAWCHC 244 (15 September 2023)
Liquidators sought repayment of alleged dispositions without value from an investor. The court refused relief under section 26(1) but granted the alternative section 29 claim.
ABSA Bank Ltd v Boshoff (2410/2012) [2012] ZAECPEHC 58 (28 August 2012)
Summary judgment granted to ABSA Bank on a mortgage loan claim; the borrower’s reliance on an alleged illegal investment scheme did not disclose a bona fide defence.
Engelbrecht NO and Others v Prowd Investments (Pty) Ltd (1554/2012) [2012] ZAWCHC 46 (21 May 2012)
The court found that the applicants established a prima facie case for provisional liquidation. The respondent failed to dispute its indebtedness to World Focus 899 CC on bona fide and reasonable grounds, particularly regarding the R2,850,000 loan and R280,000 profit from an illegal investment scheme. The restructuring of shareholdings and debenture notes after World Focus's liquidation was viewed as an attempt to avoid liability. Admissions made by the respondent's directors at the section 415 enquiry were admissible, as all directors testified publicly and confirmed their statements. The re…
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