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South Africa decisions
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Hyde Construction CC v K2013046547 (South Africa) (Pty) Ltd and Others (9179/2019) [2020] ZAWCHC 31 (29 April 2020)
The court held that Blue Cloud was a trader under the Insolvency Act, set aside the property sale and bond registration as against Hyde Construction, and ordered costs.
Axal Properties 2 CC v Kotze (712/2012) [2013] ZASCA 110 (16 September 2013)
The Supreme Court of Appeal held that Mega Super Cement CC remained a 'trader' for the purposes of s 34(3) of the Insolvency Act at the time it disposed of its assets, as the cessation of trading activity does not terminate trader status until all debts are discharged. However, Kotze failed to prove that his claim arose 'in connection with' the business of Mega. The evidence established that his claim was for a brokerage fee relating to the sale of a member's interest, not a claim connected to Mega's primary business activities. The distinction between business and non-business liabilities ap…
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Gainsford NO and Others v Tiffski Property Investments (Pty) Ltd and Others (874/2010) [2011] ZASCA 187; [2011] 4 All SA 445 (SCA); 2012 (3) SA 35 (SCA) (30 September 2011)
The Supreme Court of Appeal held that the transfer of the business and assets of Tiffindell Ski Limited to Tiffski Property Investments was void under section 34(1) of the Insolvency Act because it was not in the ordinary course of business, was not for securing payment of a debt, and no notice was published as required. The company was a trader, and the transfer occurred within six months prior to liquidation. Consequently, Tiffski did not acquire ownership, and the mortgage bonds registered in favour of the State Bank of India Limited were also void. The Bank's constitutional property right…
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