Vienings v Paint and Ladders (Pty) Ltd (12929/2009)
Vienings v Paint and Ladders (Pty) Ltd (12929/2009) [2012] ZAKZDHC 61 (30 October 2012)
The court found that the right to seek security for costs under section 13 of the Companies Act 1973 accrued when summons was served and survived the repeal of the Act by virtue of section 12(2)(c) of the Interpretation Act. The defendant provided credible evidence that the plaintiff had failed to pay a previous costs order, which was ultimately settled by another company in the group, and the plaintiff refused to provide any financial disclosure or explanation. The plaintiff's reliance on its group structure and listed status was insufficient, as only the plaintiff company is liable for cost…
Source excerpt
- Security For Costs
- Companies Act 1973 Section 13
- Interpretation Act Section 12
- Delay In Application
- Group Company Liability