Gainsford and Another v Introdeals 159 (Pty) and Others (44974/2013)
Gainsford and Another v Introdeals 159 (Pty) and Others (44974/2013) [2014] ZAGPPHC 869 (17 October 2014)
The court found that the applicants, as joint liquidators, were unable to fulfill their statutory duties due to the deregistration and dissolution of the first respondent, which rendered the property bona vacantia and vested it in the State. Section 83(4) of the Companies Act 71 of 2008 empowers the court to declare the dissolution void and to make any other order that is just and equitable, including validating legal proceedings instituted during the period of deregistration. The court rejected the twelfth respondent's reliance on Fintech (Pty) Ltd v Awake Solutions (Pty) Ltd, distinguishing…
Source excerpt
- Company Deregistration
- Liquidation
- Section 83 Companies Act
- Validation Of Proceedings
- Locus Standi
- Punitive Costs