Jafte v Ilifu Trading 330 CC (EL 1259/11, ECD 2092/11)
Jafte v Ilifu Trading 330 CC (EL 1259/11, ECD 2092/11) [2012] ZAECELLC 6 (5 April 2012)
The applicant failed to establish that it is just and equitable to wind up the respondent. The breakdown in relationships was largely caused by her insistence on being represented by her husband, contrary to the Act and the nature of close corporation membership. She did not pursue available remedies, such as calling meetings, seeking relief under section 49, or negotiating a reasonable buy-out. Her approach was self-serving and lacked clean hands. The respondent continues to operate successfully, and winding up would be unduly harsh on the other members and employees. The applicant's offer t…
Source excerpt
- Close Corporation Winding Up
- Just And Equitable Ground
- Member Disputes
- Fiduciary Duties
- Alternative Remedies
- Clean Hands Doctrine