Mango Pilots Association and Others v Mango Airlines SOC Limited and Another (21/35958)
Mango Pilots Association and Others v Mango Airlines SOC Limited and Another (21/35958) [2021] ZAGPJHC 876 (7 September 2021)
The court held that Mango Airlines' board resolution to commence business rescue was valid and effective, as it was adopted before liquidation proceedings were initiated. The five business day period in section 129(3) of the Companies Act applies only to procedural requirements after filing, not to the time between adoption and filing. Ministerial approval under the PFMA was required before filing the resolution, and Mango complied with this requirement. The applicants' urgent application for business rescue was incompetent because a board resolution had already been adopted, and their remedy…
Source excerpt
- Business Rescue
- Companies Act Section 129
- Public Finance Management Act
- Procedural Nullity
- Affected Persons
- Ministerial Approval