South Africa Case Law

Montic Dairy (Pty) Ltd and Others v Mazars Recovery and Structuring (Pty) Ltd and Others (7523/19)

Montic Dairy (Pty) Ltd and Others v Mazars Recovery and Structuring (Pty) Ltd and Others (7523/19) [2021] ZAWCHC 20; 2021 (3) SA 527 (WCC) (10 February 2021)

Court

Western Cape High Court, Cape Town

Case number

7523/19

Judge

P.A.L.Gamble

The court held that payments made by the business rescue practitioners to Mazars after the application for liquidation had been lodged are void under section 341(2) of the Companies Act, 1973. The statutory framework preserves the void disposition regime for companies in liquidation, and the new Companies Act does not override this in respect of payments to business rescue practitioners. Section 143 of the new Act provides a limited preference for remuneration and expenses, but only within the context of business rescue and post-commencement finance, not liquidation. The establishment of the…

Source excerpt

• Business Rescue
• Remuneration Of Business Rescue Practitioners
• Void Dispositions
• Concursus Creditorum
• Priority Of Claims
• Liquidation Proceedings

Big Red One Incorporated and Another v Macro Fishing (Pty) Ltd (033/06)

Big Red One Incorporated and Another v Macro Fishing (Pty) Ltd (033/06) [2006] ZASCA 87; 2006 (6) SA 309 (SCA) (1 June 2006)

Court

Supreme Court of Appeal

Case number

033/06

Judges

Scott, Streicher, Farlam, Mthiyane, Nugent

The Supreme Court of Appeal upheld a sale pendente lite of the MV Spirit of Namibia, finding the attachment covered a maritime claim and the agreement did not bar sale.

• Sale Pendente Lite
• Attachment To Found Jurisdiction
• Maritime Claim
• Admiralty Jurisdiction Regulation Act
• Priority Of Claims
• Interpretation Of Agreements