South Africa Case Law

Berrange N.O and Others v Master of the High Court Pietermaritzburg and Others (D4697/2023)

Berrange N.O and Others v Master of the High Court Pietermaritzburg and Others (D4697/2023) [2023] ZAKZDHC 61 (17 August 2023)

Court

Kwazulu-Natal High Court, Durban

Case number

D4697/2023

Judge

ME Nkosi

Provisional liquidators were allowed to sell specified assets of three related companies in liquidation after the court found exceptional circumstances and ongoing value erosion.

• Companies Act 1973
• Powers Of Provisional Liquidators
• Sale Of Assets In Liquidation
• Exceptional Circumstances
• Creditor Rights
• Companies-act-1973

Ex parte: Kajee N.O. and Others; In Re: Parkin and Others v Kajee N.O. and Others (9768/2013)

Ex parte: Kajee N.O. and Others; In Re: Parkin and Others v Kajee N.O. and Others (9768/2013) [2014] ZAKZDHC 31 (28 August 2014)

Court

Kwazulu-Natal High Court, Durban

Case number

9768/2013

Judge

J.I. Henriques

The High Court dismissed an urgent rescission and intervention application, finding no basis under Rule 42, Rule 6(12), or common law to set aside the prior order.

• Company Liquidation
• Powers Of Provisional Liquidators
• Rescission Of Order
• Urgent Application
• Locus Standi
• Enquiry Under Companies Act

Van Rensburg N.O. and Another v Cardio-Fitness Properties (Pty) Ltd and Others (46194/13)

Van Rensburg N.O. and Another v Cardio-Fitness Properties (Pty) Ltd and Others (46194/13) [2014] ZAGPJHC 40 (4 March 2014)

Court

South Gauteng High Court, Johannesburg

Case number

46194/13

Judge

N F Kgomo

The court held that the mere launching of a business rescue application does not divest provisional liquidators of their powers or office. Section 131(6) of the Companies Act suspends the actual process of winding-up, but does not relieve provisional liquidators of their duty to safeguard and superintend the assets and affairs of the insolvent company. The directors, including the second respondent, remain divested of control and cannot lawfully retake possession of the estate. The applicants, as provisional liquidators, are entitled to remain in control and possession of the business and ass…

Source excerpt

• Business Rescue
• Liquidation Proceedings
• Powers Of Provisional Liquidators
• Spoliation
• Urgent Interdict