Stark Vieh (Pty) Ltd v Peter Carroll CC (UM 212/2022)
Stark Vieh (Pty) Ltd v Peter Carroll CC (UM 212/2022) [2023] ZANWHC 96 (15 June 2023)
The applicant established locus standi as a creditor and proved the respondent's indebtedness, both by documentary evidence and the respondent's own admissions. The respondent failed to pay management fees and could not account for 7510 head of cattle, amounting to over R122 million. The respondent's attempts to dispute the debt were not bona fide or reasonable, and its counterclaim was unsubstantiated. The respondent's filing of security did not discharge its debt nor address the insolvency. The court found that all jurisdictional requirements for final liquidation under section 345(1)(a) of…
Source excerpt
- Final Liquidation
- Commercial Insolvency
- Creditor Locus Standi
- Just And Equitable Winding Up
- Bona Fide Dispute
- Management Fees