Poly-Bag Industries CC t/a Johnson Agencies v Trio Bags (Pty) Ltd (31872/2019)
Poly-Bag Industries CC t/a Johnson Agencies v Trio Bags (Pty) Ltd (31872/2019) [2020] ZAGPJHC 381 (20 October 2020)
The court found that the applicant failed to comply with statutory service requirements under s346(4A)(a) and s345(1)(a) of the Companies Act, as the application was not served on the respondent's employees or trade unions, nor at the registered office as required. The applicant provided no justification for non-compliance and did not seek a postponement to rectify the defect. On the merits, the applicant failed to establish that the respondent was unable to pay its debts or commercially insolvent, as there were factual disputes regarding the amount owed and repayment terms, and the documenta…
Source excerpt
- Winding Up Of Companies
- Statutory Service Requirements
- Commercial Insolvency
- Just And Equitable Winding Up