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South Africa decisions
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Standard Bank of SA Ltd v Paradise Creek 34 (Pty) Ltd (2599/2022) [2023] ZAMPMBHC 63 (27 September 2023)
The court granted final liquidation of Paradise Creek 34 (Pty) Ltd after finding it failed to pay Standard Bank on demand under a suretyship.
City of Johannesburg v Kaplan NO and Another (111/05) [2006] ZASCA 39; 2006 (5) SA 10 (SCA); 68 SATC 286 (29 March 2006)
The Supreme Court of Appeal held that section 118(3) of the Municipal Systems Act creates a statutory charge on property for municipal debts, granting the municipality preference over mortgage bonds. However, when the debtor is subject to liquidation or insolvency, section 118(2) makes the operation of section 118 subject to section 89 of the Insolvency Act. Section 89(4) limits the preference for municipal debts that qualify as 'taxes' under section 89(5) to a two-year period prior to liquidation and from that date until transfer. Debts not qualifying as 'taxes' are not subject to this limit…
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P G Bison Ltd and Others v Master of the High Court, Grahamstown and Another (515/97) [1999] ZASCA 92; [2000] 1 All SA 363 (A); 2000 (1) SA 859 (SCA) (29 November 1999)
The Supreme Court of Appeal held that the additional clause in the cession agreement did not suspend the transfer of rights to the appellants. The clause merely delayed the appellants' ability to exercise those rights until the account was overdue and notice was given. The wording of the cession and its provisions indicated an immediate and unconditional transfer of rights, with the corporation acting as agent for the appellants until the mandate was terminated. The court found that the parties intended to provide security to the appellants and that the cession in securitatem debiti was effec…
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