TN Molefe Construction (PTY) Ltd v SOKI (PTY) Ltd T/A SCM Construction (PTY) Ltd (44310/2021)
TN Molefe Construction (PTY) Ltd v SOKI (PTY) Ltd T/A SCM Construction (PTY) Ltd (44310/2021) [2022] ZAGPJHC 874 (7 November 2022)
The court found that the respondent was unable to pay its debts as contemplated by section 344(f) read with section 345(1)(c) of the Companies Act 61 of 1973. The respondent's own correspondence, including a reconciliation statement and payment proposal based on future cash flow, constituted an admission of liability and inability to pay debts as they fell due. The respondent's alleged disputes regarding defective work and breach of contract were raised only in the answering papers and were not supported by evidence, such as a notice of breach or a list of defects. The court held that these d…
Source excerpt
- Company Winding Up
- Commercial Insolvency
- Disputed Debt
- Prima Facie Case
- Legal Privilege Exception