3
IN THE HIGH COURT OF SOUTH AFRICA
GAUTENG DIVISION, JOHANNESBURG
CASE NO: 2023-082122
1. Reportable: No 2. Of interest to other judges: No 3. Revised Wright J 31 January 2024 |
In the matter between:
LYCONET AUSTRIA GmBH Intervening Applicant
and
ALBERT WEIGHELHOFER First Respondent
WAYNE KRAMBECK Second Respondent
ONICAFLEX (PTY) LTD Third Respondent
RALPH FARREL LUTCHMAN N.O Fourth Respondent
LINDIWE FLORENCE KAAB N.O Fifth Respondent
LYCONET SOUTH AFRICA (PTY) LTD Sixth Respondent
(in liquidation)
MASTER OF THE HIGH COURT – JOHANNESBURG Seventh Respondent
In re:
ALBERT WEIGLHOFER First Applicant
WAYNE KRAMBECK Second Applicant
ONICAFLEX (PTY) LTD Third Applicant
and
LYCONET SOUTH AFRICA (PTY) LTD Respondent
JUDGMENT
WRIGHT J
1. The applicants in the main application sought the final winding up of the respondent, Lyconet South Africa. On 12 September, 2023 such an order was granted. On 20 October, 2023 the order was rescinded and Lyconet was placed in provisional winding up with a return day of 29 January, 2024.
2. Before me now is the question of what is to happen on the return day.
3. The matter is not ready to proceed as various documents like heads of argument are not on file.
4. In the meantime, Lyconet Austria, the holding company of Lyconet South Africa, seeks to intervene as a party, or has been admitted as a party. It is not necessary to go further into this question.
5. The original applicants for winding up now seek a postponement with extension of the provisional winding up. The grounds relied on include the unreadiness of the matter for hearing and the need for the provisional liquidators to look into the matter. This case concerns allegations that Lyconet South Africa ran a Ponzi scheme. In my view, justice requires extension of the rule.
ORDER
1. The provisional liquidation of the respondent is extended to 13 May, 2024, opposed roll.
2. Costs reserved.
___________________
GC Wright
Judge of the High Court
Gauteng Division, Johannesburg
HEARD : 31 January 2024
DELIVERED : 31 January 2024
APPEARANCES :
INTERVENING APPLICANT
Adv C Bothma SC
Adv W Bezuidenhout
082 780 6067
Adv S Mathe
Instructed by SKV Attorneys
1ST TO 3RD RESPONDENTS
Adv N Cassim SC
083 308 3094
L Acker
082 853 9883
Instructed by Magda Kets Attorneys
082 371 5376