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Sheer and Others v Buddy Whiteman Engraving CC and Another (21/34078) [2022] ZAGPJHC 521 (5 August 2022)
The High Court granted final winding up of a close corporation after finding an irretrievable breakdown and deadlock between equal members.
Du Plessis v Bonnox Proprietary Limited and Another (A695/2016, 48111/2014) [2019] ZAGPPHC 515 (18 April 2019)
The court found that the relationship between the parties had irretrievably broken down, but no deadlock existed at board level and the company was solvent with its substratum intact. The evidence did not support the partnership analogy or oppression sufficient to justify winding-up. The appellant failed to establish grounds under section 163 for relief based on oppression or unfair prejudice. However, the court determined that a clean break between the parties was necessary and that the appellant should be directed to purchase the second respondent's shares at a fair and reasonable value, wi…
Source excerpt
Lidino Trading 580 CC v Cross Point Trading (Pty) Ltd , In re: Mabe v Cross Point Trading 215 (Pty) Ltd (2130/2012) [2012] ZAFSHC 155 (23 August 2012)
The court refused business rescue and granted provisional liquidation, finding no workable rescue plan, no ongoing business, and a deadlock between the directors.
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