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South Africa Case Law

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Commercial And Corporate [2017] ZAKZDHC 6

Mtolo and Others Guilder Investments 10 (Pty) Ltd and Others (8706/2016)

Mtolo and Others Guilder Investments 10 (Pty) Ltd and Others (8706/2016) [2017] ZAKZDHC 6 (2 March 2017)

Court
Kwazulu-Natal High Court, Durban
Case number
8706/2016
Judge
Kruger

The court found that the applicants failed to provide a factual foundation for a reasonable prospect of rescuing Guilder Investments 10 (Pty) Ltd. The business plan relied on speculative figures and unsupported assertions regarding mining operations, sale of platforms, and potential buyers. The applicants did not substantiate their claims with evidence in their affidavits, nor did they explain why interested entities had not commenced mining or provided details of committed purchasers. The court held that the threshold for business rescue under section 131(4) of the Companies Act was not met.…

Source excerpt

  • Business Rescue
  • Companies Act Section 131
  • Provisional Liquidation
  • Reasonable Prospect Test
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Commercial And Corporate [2014] ZAKZPHC 1

Eveleigh v Dowmont Snacks (Pty) Ltd and Others (11982/2013)

Eveleigh v Dowmont Snacks (Pty) Ltd and Others (11982/2013) [2014] ZAKZPHC 1 (22 January 2014)

Court
Kwazulu-Natal High Court, Pietermaritzburg
Case number
11982/2013
Judge
Vahed

The court found that the applicant failed to demonstrate a reasonable prospect of rescuing Dowmont Snacks (Pty) Ltd. The business rescue application was based on the same plan previously rejected by Gorven J, with no substantive amendments or evidence of new rescue finance. The applicant's assertions amounted to speculative suggestions rather than reasonable grounds. The court also held that DH Brothers Industries (Pty) Ltd, as a creditor, was entitled to intervene as an affected person. The current situation required finality, and only liquidation would provide the necessary investigative an…

Source excerpt

  • Business Rescue
  • Companies Act 71 Of 2008
  • Creditor Intervention
  • Liquidation Proceedings
  • Reasonable Prospect Test
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About this LexChat collection

South Africa decisions are organised by court, judge, legal area and indexed issue so a practitioner can move from a proposition to a citable authority with the surrounding context intact.

Source links and collection timestamps are retained alongside the indexed records.