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South Africa decisions
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Priestman v Fibonacci Asset Management (Pty) Ltd and Others (2025/023556) [2025] ZAGPJHC 416 (11 April 2025)
The High Court set aside a shareholder resolution removing the applicant as director and recorded that a planned follow-up meeting would not proceed.
Ithemba Sky Mark Security All Services (Pty) Ltd v Ithemba Sky Mark Security Services Cape Town CC and Another (21535/2022) [2023] ZAGPJHC 772 (20 June 2023)
The High Court declared a deed of cession null and void ab initio because it transferred the applicant’s business contracts without shareholder approval or client consent.
Piotrans (Pty) Ltd and Another v MMC of Transport COJ and Others (2023/037410) [2023] ZAGPJHC 601 (30 May 2023)
The court found that the applicants failed to establish urgency, as they were aware of the shareholders' meeting and the impending changes but delayed taking action. The relief sought was largely an afterthought, triggered by the respondents' opposing papers. The shareholders, holding a substantial majority of shares, lawfully exercised their rights under the Companies Act and the Memorandum of Incorporation to remove and appoint directors. The applicants, whose board was dissolved, lacked locus standi to bring proceedings on behalf of the first applicant. The complexity and volume of the pap…
Source excerpt
Foxvest Group (Pty) Ltd and Another v Rocky Park Holdings (Pty) Ltd and Others (2022/2807) [2023] ZAGPJHC 63 (27 January 2023)
The High Court set aside a shareholders’ resolution removing a director because it was proposed by only one shareholder, contrary to section 65(3) of the Companies Act.
African Dawn Property Transfer Finance 3 (Pty) Ltd v Tuscaloosa 37 (Pty) Ltd and Others (65139/2012) [2014] ZAGPPHC 992 (28 November 2014)
The court set aside the sale and cession of Tuscaloosa’s claim, allowed attachment under a special notarial bond, and refused compulsory winding-up.
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