Links Body Corporate v Liebesheim Bouers CC (9114/2021)
Links Body Corporate v Liebesheim Bouers CC (9114/2021) [2023] ZAGPJHC 385 (4 May 2023)
The court held that the prevailing authority, Court v Standard Bank of SA Ltd, establishes that the security certificate required by section 9(3)(b) of the Insolvency Act does not need to predate the notice of motion or be attached to the application when served. Its purpose is to cover administrative costs, not to protect the respondent. Provided the certificate is issued within ten days before the application and is available at the hearing, the statutory requirements are satisfied. The respondent’s reliance on Arnawil Investments was rejected, as that approach has been expressly overruled.…
Source excerpt
- Liquidation Order
- Security For Costs
- Insolvency Act Section 9 3 B
- Companies Act Section 346 3
- Leave To Appeal