Electronic Mining Supplies CC v Mabelane N.O and Another (807/2015)
Electronic Mining Supplies CC v Mabelane N.O and Another (807/2015) [2018] ZAGPPHC 648 (28 February 2018)
The court found that the applicant failed to establish that the deceased lawfully resigned as a member prior to her death, as there was a real dispute of fact and the evidence was insufficient. Relief sought under sections 36 and 37 of the Close Corporations Act was denied because only a member may apply for cessation of membership, and no alternative disposition applied. The court held that the deceased's membership interest must be disposed of in accordance with section 35 of the Act, and ordered an independent valuation and sale or transfer of the interest. The court expressed serious conc…
Source excerpt
- Close Corporations Act
- Membership Interest Disposal
- Declaratory Relief
- Fronting Practice
- Broad Based Black Economic Empowerment
- Valuation Of Members Interest