Resilient Rock (Pty) Ltd v Voltex (Pty) Ltd t/a Atlas Group (1132/2023)
Resilient Rock (Pty) Ltd v Voltex (Pty) Ltd t/a Atlas Group (1132/2023) [2025] ZASCA 33 (31 March 2025)
Section 347(5) of the Companies Act 61 of 1973 imposes a peremptory prohibition on any court, including appellate courts, from granting a final winding-up order in respect of a company that is already being wound up by order of court. The full court erred in disregarding the plain meaning of section 347(5) and in concluding that its appellate jurisdiction entitled it to issue a second winding-up order with retrospective effect. The legislative intent is clear: only one winding-up order may be operative at any time, and subsequent courts must give effect to the existence of a prior order. The…
Source excerpt
- Winding Up Orders
- Companies Act Section 347 5
- Jurisdiction Of Appellate Courts
- Concursus Creditorum
- Interpretation Of Statutes