Lewis Group Limited v Woollam and Others (17199/2016)
Lewis Group Limited v Woollam and Others (17199/2016) [2017] ZAWCHC 15 (1 March 2017)
A person who has made a demand under section 165(2) of the Companies Act may withdraw that demand at any time, as there is no statutory prohibition or practical reason to prevent withdrawal. The withdrawal renders any pending application to set aside the demand under section 165(3) moot, except as to costs. The court will not determine the merits of the withdrawn demand or issue a declaratory order, as the controversy is no longer live and such relief would be advisory. Costs orders must reflect the stage at which the withdrawal occurred and the conduct of the parties, with the applicant enti…
Source excerpt
- Companies Act Section 165
- Derivative Actions
- Withdrawal Of Demand
- Costs Orders
- Declaratory Relief