Van den Heever and Others v RC Christie Incorporated and Others (21746/2019)
Van den Heever and Others v RC Christie Incorporated and Others (21746/2019) [2022] ZAGPJHC 897 (16 November 2022)
The court found that the funds held in Water Africa's attorneys' trust account were the property of Water Africa, not the second and third defendants, as evidenced by correspondence, affidavits, and the purpose of the tender. Payments made from the trust account to the second and third defendants after the final winding-up order were void under the Companies Act and Insolvency Act. The subsequent business rescue order did not alter the legal position, as the winding-up order remained in force and reinstatement restored the status quo ante. Water Africa's attorneys were liable for unauthorised…
Source excerpt
- Liquidation
- Trust Account Liability
- Concursus Creditorum
- Unauthorised Disposition
- Companies Act 1973
- Insolvency Act 1936