Missouri Trading CC and Another v ABSA Bank and Others (8598/2011)
Missouri Trading CC and Another v ABSA Bank and Others (8598/2011) [2014] ZAKZDHC 6; 2014 (4) SA 55 (KZD) (20 March 2014)
The court held that reinstatement of a deregistered close corporation under section 82(4) of the Companies Act 71 of 2008 operates prospectively from the date of reinstatement, not retrospectively from the date of deregistration. The absence of express retrospective wording in the current Act, contrasted with previous legislation, indicates a deliberate legislative choice. Deregistration dissolves the corporation, and its corporate personality ceases until reinstatement. Liquidation orders and other acts done during the period of deregistration are ordinarily void unless validated by a just a…
Source excerpt
- Deregistration Of Close Corporation
- Reinstatement Under Companies Act
- Retrospective Vs Prospective Effect
- Liquidation Orders
- Bona Vacantia
- Just And Equitable Relief