Den Norske Bank ASA v Madsen CV (139/99)
Den Norske Bank ASA v Madsen CV (139/99) [2001] ZASCA 34; [2001] 3 All SA 392 (A); 2001 (3) SA 529 (SCA) (23 March 2001)
The Supreme Court of Appeal held that the phrase 'a claim which arose' in section 11(4)(c) of the Admiralty Jurisdiction Regulation Act 105 of 1983 refers to the time when the claim comes into existence, not when it becomes due and payable. The Court reasoned that the legislative context, especially the provisions of section 10A(4)(a), supports this interpretation, as claims may be proved before they are enforceable. The distinction between existence and enforceability is well established in South African law, and the legislature would have used different wording if it intended otherwise. The…
Source excerpt
- Ranking Of Maritime Claims
- Admiralty Jurisdiction Regulation Act
- Interpretation Of Statutes
- Priority Of Creditors
- Submission Of Proof
- Mortgagee Priority