Staden N.O. and Others v Consolidated Auctioneers Pretoria CC and Others (66559/2011)
Staden N.O. and Others v Consolidated Auctioneers Pretoria CC and Others (66559/2011) [2016] ZAGPPHC 927 (30 September 2016)
The court found that the provisional liquidators lacked authority to ratify the sale in execution prior to the extension of their powers by the Master on 24 August 2011. Any correspondence or purported ratification before this date was ultra vires and invalid. The sale in execution, although conducted before liquidation, did not result in transfer of ownership, which remained with the company. The default judgment was granted on an unopposed basis due to a misunderstanding of court procedure and lack of proper notice, not wilful default. The applicants provided a reasonable explanation for th…
Source excerpt
- Liquidation Procedure
- Sale In Execution
- Ratification Of Sale
- Rescission Of Judgment
- Powers Of Liquidators
- Condonation