South Africa Case Law

Jackson v Louw N.O and Another (CA&R 149/17)

Jackson v Louw N.O and Another (CA&R 149/17) [2018] ZAECGHC 141; [2019] 2 All SA 145 (ECG) (13 December 2018)

Court

Eastern Cape High Court, Grahamstown

Case number

CA&R 149/17

Judges

D Van Zyl, J E Smith, G H Bloem

The court held that the agreements regarding the livestock and equipment constituted voidable preferences under section 29 of the Insolvency Act. The Trust was the owner of the heifers and younger animals, and the equipment, at the time of disposition. The surrender of these assets to the appellant was not in the ordinary course of business, but rather arose from the Trust's insolvency and inability to meet its obligations. The evidence did not support a finding of collusion or fraudulent intent under section 31. The trial court's order was set aside and replaced with an order setting aside o…

Source excerpt

• Insolvency Act
• Voidable Preference
• Collusive Dealing
• Secured Creditor Rights
• Ordinary Course Of Business
• Statutory Pledge

Firstrand Bank Limited v Master of the High Court and Others (30661/2005)

Firstrand Bank Limited v Master of the High Court and Others (30661/2005) [2006] ZAGPHC 163 (4 April 2006)

Court

High Courts - Gauteng

Case number

30661/2005

Judge

Pretorius

The court found that although the Land and Agricultural Development Bank Act, 2002 is applicable to the matter, the Second Respondent failed to comply with the procedural requirements of section 33(3)(b), specifically the need to obtain a court order to establish a statutory preference. Advances made prior to the commencement of the 2002 Act remain valid, but the statutory preference can only be obtained by following the procedures set out in the current Act. The Master of the High Court erred in upholding the objection of the Second Respondent, as the necessary court order was not obtained.…

Source excerpt

• Liquidation And Distribution Account
• Preferential Creditor Rights
• Statutory Pledge
• Insolvency Act Interpretation
• Land Bank Act Transition

Krapohl v Oranje Kooperasie Bpk. (625/88)

Krapohl v Oranje Kooperasie Bpk. (625/88) [1990] ZASCA 53; 1990 (3) SA 848 (AD); [1990] 2 All SA 366 (A) (29 May 1990)

Court

Supreme Court of Appeal

Case number

625/88

Judges

Nienaber, Hoexter, Grosskopf, Eksteen, Friedman

The court held that a statutory pledge under section 173 of the Cooperatives Act did not prevent ownership passing or justify repayment of the purchase price.

• Statutory Pledge
• Condictio Indebiti
• Transfer Of Ownership
• Consensus In Contract
• Performance Impossibility
• Statutory-pledge