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South Africa decisions
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First Rand Bank Ltd and Another v Azrapart (Pty) Ltd and Another (4437/2024) [2025] ZAFSHC 162 (5 June 2025)
The court placed Azrapart under business rescue after finding it financially distressed and unconvinced by claims of an imminent R2.6 billion Redcore funding injection.
Unemployment Insurance Fund and Another v Johnson and Others (134443/2023) [2024] ZAGPPHC 765 (30 July 2024)
The court granted declaratory and mandatory relief allowing the UIF to exercise voting rights in pledged shares after Homii’s default, and ordered punitive costs.
Pick n Pay Retailers (Pty) Ltd v Cascade Avenue Trading 158 (Pty) Ltd (150/2024) [2024] ZANCHC 18 (26 February 2024)
The applicant established urgency due to ongoing commercial loss and risk to its security, and acted promptly in bringing the application. The respondent's payments were appropriately allocated to historical debt in terms of the agreement, and the respondent remained indebted to the applicant. The contractual provisions entitle the applicant to perfect its security under the General Notarial Bond, and court oversight is required for such perfection. The respondent's arguments regarding the punitive nature of perfection and the alleged supplementation of the applicant's case in reply were reje…
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