Praetor and Another v Aqua Earth Consulting CC (162/2016)
Praetor and Another v Aqua Earth Consulting CC (162/2016) [2017] ZAWCHC 8 (15 February 2017)
The court found that the first applicant, Mr Praetor, lacked standing under section 354 of the Companies Act and permitted withdrawal of his application, with costs. The second applicant, Geothermal Energy Systems (Pty) Ltd (in liquidation), had standing to bring the rescission application at common law, but its explanation for default was unacceptable. The company had deliberately rendered its registered office ineffectual for service, subverting statutory requirements and undermining the judicial process. Although Geothermal had a bona fide defence to the winding-up application, its failure…
Source excerpt
- Company Liquidation
- Standing Of Directors
- Service Of Process
- Rescission Of Judgment
- Bona Fide Dispute
- Costs Orders