Rogal Holdings (Pty) Ltd and Another v Victor Turnkey Projects (Pty) Ltd and Others (53473/2021)
Rogal Holdings (Pty) Ltd and Another v Victor Turnkey Projects (Pty) Ltd and Others (53473/2021) [2022] ZAGPPHC 167 (28 March 2022)
The court found that the applicant is a creditor and thus an affected person under the Companies Act, entitled to seek the setting aside of the business rescue resolution. The applicant's claim, though unliquidated, arises from a breach of contract and is supported by a complete cause of action. The respondents' denials were bare and unsupported by evidence, failing to create a genuine dispute of fact. The business rescue plan was finally rejected at the creditors' meeting on 3 December 2021, and no steps were taken by the practitioner or affected parties to prepare a revised plan or challeng…
Source excerpt
- Business Rescue
- Winding Up
- Creditor Locus Standi
- Contractual Breach
- Liquidated And Unliquidated Claims