Mayo NO v De Montlehu (20504/2014)
Mayo NO v De Montlehu (20504/2014) [2015] ZASCA 127; 2016 (1) SA 36 (SCA) (23 September 2015)
The Supreme Court of Appeal held that section 366(2) of the Companies Act 61 of 1973 does not override the three-month time period and cost requirements stipulated in section 44(1) of the Insolvency Act 24 of 1936. The court found that the strict interpretation of 'mutatis mutandis' requires that the necessary changes must be required, not merely permitted, and that the time period for proving claims and the associated cost requirements apply equally to company liquidations as to sequestrations. Section 366(2) relates only to participation in a distribution under a particular account and does…
Source excerpt
- Companies Act 1973
- Insolvency Act 1936
- Proof Of Claims
- Late Claims
- Liquidation Procedure