Lynn NO and Another v Coreejes and Another (687/10)
Lynn NO and Another v Coreejes and Another (687/10) [2011] ZASCA 159; 2011 (6) SA 507 (SCA); [2012] 1 All SA 620 (SCA) (28 September 2011)
Section 382(1) of the Companies Act 61 of 1973 does not contain a general prohibition rendering acts performed by less than all appointed liquidators a nullity. The provision requires joint action and imposes joint and several liability for acts performed jointly, but does not invalidate acts performed without full joint action. The procedural defect arising from the failure of all liquidators to authorise the institution of the action is capable of ratification, especially where the non-consenting liquidator subsequently resigns and the remaining liquidators are appointed and pursue the liti…
Source excerpt
- Liquidator Joint Action
- Companies Act Section 382
- Ratification Of Procedural Acts
- Point In Limine
- Authority Of Attorneys