Van Zyl NO and Others v Master of the High Court of South Africa, Western Cape High Court and Another (2876/2012)
Van Zyl NO and Others v Master of the High Court of South Africa, Western Cape High Court and Another (2876/2012) [2012] ZAWCHC 361 (26 November 2012)
The court found that the claim by Great Force Investments was based on simulated transactions and perjured evidence, as established by uncontested facts from the section 417 inquiry and admissions by key witnesses. The evidence showed collusion to convert Great Force from a concurrent to a secured creditor through backdated and false documentation. The Master failed to apply the correct legal standard, which requires expungement of claims where there is a reasonable belief, based on facts, that the claim is not genuine. The court held that the Master should have disallowed the claim and left…
Source excerpt
- Insolvency Act Review
- Expungement Of Claim
- Simulated Transactions
- Perjury In Proof Of Claim
- Liquidation Procedure