Arkein Capital Partners (Pty) Ltd v Gauteng Partnership Trust t/a Gauteng Partnership Fund and Others (A5051/2021)
Arkein Capital Partners (Pty) Ltd v Gauteng Partnership Trust t/a Gauteng Partnership Fund and Others (A5051/2021) [2024] ZAGPJHC 631 (5 July 2024)
The appeal was dismissed due to Arkein's substantial and inadequately explained delay in prosecuting the appeal, compounded by multiple procedural failures. On the merits, the contract between GPF and Arkein was ultra vires and unlawful under the PFMA, as GPF lacked authority to enter into borrowing arrangements or ancillary contracts to procure funding without ministerial approval. The tender process was found to be irregular, lacking transparency and compliance with statutory and internal policies. Arkein's claim for payment under the contract was rejected, as the underlying agreement was v…
Source excerpt
- Ultra Vires Contracts
- Public Finance Management Act
- Self Review
- Just And Equitable Remedy
- State Tender Review
- Condonation Of Late Filing