Kriel N.O v Rockland Group Holdings (Pty) Ltd and Another; Born Free Investments 247 (Pty) Ltd v Kriel N.O (5417/2014; 9609/2014; 12862/2019)
Kriel N.O v Rockland Group Holdings (Pty) Ltd and Another; Born Free Investments 247 (Pty) Ltd v Kriel N.O (5417/2014; 9609/2014; 12862/2019) [2021] ZAWCHC 243 (24 November 2021)
The court held that Born Free Investments 247 (Pty) Ltd failed to demonstrate sufficient grounds for lifting the suspension of proceedings imposed by the curatorship order under section 5(5)(a) of the Financial Institutions (Protection of Funds) Act. The primary consideration is the effective conduct of the curatorship and the protection of investor interests. RAM's only asset is its loan claim against RGH, and the outcome of that action will determine whether RAM has any assets to satisfy Born Free's claim. Proceeding with the rental claim action now would risk unnecessary legal costs and co…
Source excerpt
- Curatorship Stay Of Proceedings
- Leave To Proceed Against Curatorship
- Consolidation Of Actions
- Financial Institutions Protection Of Funds Act
- Creditor Priority
- Bill Of Rights Limitation