Hlumisa Investment Holdings (RF) Ltd and Another v Kirkinis and Others (1423/2018) [2020] ZASCA 83 (3 July 2020)

Interim interdict – preserving property pendente lite – based on res
litigiosa – requirements not met – fraud – inappropriate to make findings on motion – company law – companies in a group of companies are separate legal entities even if wholly-owned – no case made out for order restraining company holding majority shares in subsidiary from freely dealing with shares – nor directing company to exercise control in a particular manner.

Company law – section 163 of the Companies Act 71 of 2008 – whether the applicant established any act or omission having a result that is oppressive or unfairly prejudicial to, or that unfairly disregards her interests

Delictual claim – claim for pure economic loss caused by omission –wrongfulness – risk of indeterminate liability – vulnerability to risk – plaintiff could reasonably have taken steps to protect against the risk

Company law – exception – s 218(2) read with s 22(1) of the Companies Act 61 of 2008 – allegation that company carried on its business recklessly – action proceedings by a creditor against directors of company.