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South Africa Case Law

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Commercial And Corporate [2024] ZAKZPHC 40

Volkar N.O and Others v Big Sky Trading 219 CC and Another (12601/23)

Volkar N.O and Others v Big Sky Trading 219 CC and Another (12601/23) [2024] ZAKZPHC 40 (24 April 2024)

Court
Kwazulu-Natal High Court, Pietermaritzburg
Case number
12601/23
Judge
Pietersen AJ

The court found that the failure to join creditors was fatal because the relief sought would directly and substantially affect their rights, distinguishing the present matter from authorities cited by the applicants. The court held that the alternative remedies available to the applicants, including review under section 130(1)(a)(ii) of the Companies Act and the ability to move for amendments at the section 151 meeting, were adequate. The applicants did not demonstrate that there are conflicting judgments or issues of substantial importance requiring leave to appeal. The threshold for grantin…

Source excerpt

  • Business Rescue
  • Non Joinder
  • Adequate Alternative Remedy
  • Companies Act Section 130
  • Joinder Of Creditors
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Commercial And Corporate [2014] ZAGPPHC 1048

Absa Bank Limited v Golden Dividend 339 (Pty) Ltd and Others (70637/13)

Absa Bank Limited v Golden Dividend 339 (Pty) Ltd and Others (70637/13) [2014] ZAGPPHC 1048; 2015 (5) SA 272 (GP) (19 December 2014)

Court
North Gauteng High Court, Pretoria
Case number
70637/13
Judge
Lazarus

The court held that joinder of all creditors was not required as notification and participation rights under the Companies Act were sufficient. The extension for publication of the business rescue plan was validly granted by the majority creditor, and a meeting was not strictly required for such extension. However, the business rescue plan failed to comply with the substantive requirements of section 150(2) as it did not provide adequate information regarding available property, conditions for implementation, or a realistic prospect of paying creditors. The plan was found to be a superficial…

Source excerpt

  • Business Rescue
  • Company Liquidation
  • Joinder Of Creditors
  • Remuneration Of Business Rescue Practitioner
  • Compliance With Companies Act
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About this LexChat collection

South Africa decisions are organised by court, judge, legal area and indexed issue so a practitioner can move from a proposition to a citable authority with the surrounding context intact.

Source links and collection timestamps are retained alongside the indexed records.