Steve Tshwete Local Municipality v Fedbond Participation Mortgage Bond Managers (Pty) Ltd and Another (409/12)
Steve Tshwete Local Municipality v Fedbond Participation Mortgage Bond Managers (Pty) Ltd and Another (409/12) [2013] ZASCA 15; 2013 (3) SA 611 (SCA) (20 March 2013)
The Supreme Court of Appeal held that the period for which municipal charges are payable to obtain a clearance certificate in liquidation is the two years preceding the date of application for the certificate, as stipulated in section 118(1) of the Local Government: Municipal Systems Act. The court reaffirmed its previous decision in Kaplan, finding no manifest oversight or palpable mistake that would justify departing from it. Section 89(4) of the Insolvency Act does not extend the embargo period in section 118(1); rather, it limits embargo provisions only where the debt is a tax as defined.…
Source excerpt
- Municipal Clearance Certificates
- Liquidation Procedure
- Preferent Charges
- Stare Decisis