- Flynote
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Business rescue – s 133 of the Companies Act 71 of 2008 (the Act) – moratorium on legal proceedings against company in business rescue – sale of company’s assets – deposit provisionally paid pending conclusion of sale agreements – sale not concluded – deposit not property belonging to company or lawfully in its possession – recovery of deposit not precluded by s 133. Section 145(1)(a) of the Act – notice of court proceedings to creditors concerning business rescue proceedings – a general notification requirement – duty to notify
creditors rests on business rescue practitioner.
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Cited documents 9
Judgment 7
- Absa Bank Limited v Naude NO and Others (20264/2014) [2015] ZASCA 97 (1 June 2015)
- Chetty v Hart (20323/2014) [2015] ZASCA 112 (4 September 2015)
- Command Protection Services (Gauteng) (Pty) Ltd t/a Maxi Security v SA Post Office Ltd (214/2012) [2012] ZASCA 160 (16 November 2012)
- Corruption Watch NPC and Others v President of the Republic of South Africa and Others (Helen Suzman Foundation as Amicus Curiae); Nxasana v Corruption Watch NPC and Others (Helen Suzman Foundation as Amicus Curiae) [2018] ZACC 23 (13 August 2018)
- Kransfontein Beleggings (Pty) Ltd v Corlink Twenty Five (Pty) Ltd and Others (624 of 2016) [2017] ZASCA 131 (29 September 2017)
- Murray NO and Another v Firstrand Bank Ltd t/a Wesbank (20104/2014) [2015] ZASCA 39 (26 March 2015)
- Natal Joint Municipal Pension Fund v Endumeni Municipality (920/2010) [2012] ZASCA 13 (16 March 2012)