Daffue v Espach and Others (45341/19)
Daffue v Espach and Others (45341/19) [2020] ZAGPPHC 13 (28 February 2020)
The court found that the applicant failed to establish a reasonable prospect for business rescue, as the property company was not financially distressed and the trading company could not be rescued without access to the property company's assets. The deadlock between shareholders persisted despite the appointment of an independent manager, and the loss of trust and confidence justified liquidation on the just and equitable ground. The applicant did not provide good cause for rescission of the liquidation order, nor did he adequately address the facts set out in the original liquidation applic…
Source excerpt
- Business Rescue
- Liquidation On Just And Equitable Ground
- Deadlock Between Shareholders
- Financially Distressed Company
- Rescission Of Liquidation Order