- Flynote
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Company law – s 341(2) of the Companies Act 61 of 1973 –
disposition by a company of its property after commencement of winding-up –
such disposition void ab initio – court nevertheless retaining discretion to
declare disposition valid – discretion to be exercised judicially in light of all of
the facts of the case – company effecting one payment to a creditor prior to grant
of provisional order of winding-up – court refusing to validate – three payments
made after grant of provisional order – payments constituting void dispositions
in terms of s 341(2) read with s 348 of the Companies Act – court has no
discretion to validate such payments
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Cited documents 5
Judgment 5
- Du Toit v Minister for Safety and Security and Another [2009] ZACC 22 (18 August 2009)
- Gainsford N.O. and Others v Tanzer Transport (Pty) Ltd, In Re; Gainsford N.O. and Others v Tanzer Transport (Pty) Limited and Others (76/2013) [2014] ZASCA 32 (28 March 2014)
- Hotz and Others v University of Cape Town [2017] ZACC 10 (12 April 2017)
- Kubyana v Standard Bank of South Africa Ltd [2014] ZACC 1 (20 February 2014)
- KwaZulu-Natal Joint Liaison Committee v MEC Department of Education, KwaZulu-Natal and Others [2013] ZACC 10 (25 April 2013)