Cudlipp N.O. and Others v Maitland N.O. and Others (15628/2015)
Cudlipp N.O. and Others v Maitland N.O. and Others (15628/2015) [2022] ZAWCHC 67 (3 May 2022)
The court found that the warranties in the sale of shares agreement related only to the shares and loan accounts in GWP 302, not to the property acquired by GWP 302 through a linked transaction. The seller trusts had no duty or knowledge regarding the servitude agreement affecting the Tradequick property. Any duty to disclose rested with Tradequick's directors, not the trustees. The plaintiffs' claim was for reflective loss, as the alleged damages were suffered by GWP 302, not directly by the plaintiffs. Under South African law, as endorsed by the Supreme Court of Appeal, shareholders cannot…
Source excerpt
- Reflective Loss
- Non Disclosure
- Warranties In Share Sale
- Servitude Agreement
- Damages
- Linked Transactions