Barnard N.O and Another v National Credit Regulator and Another (A351/2019)
Barnard N.O and Another v National Credit Regulator and Another (A351/2019) [2020] ZAGPPHC 798 (22 December 2020)
The court held that the appellants, as liquidators of CMR Group (Pty) Ltd, were aware of the Tribunal hearing but chose not to participate. The Tribunal proceeded in their absence and granted orders based on the Regulator's submissions and CMR's prior concessions. The court found that the appellants could not raise new legal points on appeal that were not canvassed before the Tribunal, as the statutory framework of the National Credit Act requires participation in the Tribunal hearing as a jurisdictional prerequisite for appeal. The appropriate remedy for parties absent from the Tribunal hear…
Source excerpt
- National Credit Act
- Liquidation Proceedings
- Concursus Creditorum
- Reckless Lending
- Tribunal Appeal
- Fiduciary Duties Of Liquidators