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High Court of South Africa KwaZulu-Natal, Durban

The KwaZulu-Natal Division of the High Court of South Africa is a superior court of law with general jurisdiction over the KwaZulu-Natal province of South Africa. The main seat of the division is at Pietermaritzburg, while a subordinate local seat at Durban has concurrent jurisdiction over the coastal region of the province.

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1 judgment

Citation	Judgment date
October 2012
Standard Bank of South Africa Ltd v R-Bay Logistics CC (4165/2012) [2012] ZAKZDHC 69 (31 October 2012) Reported Transitional Company Act: "solvent" includes commercial solvency; creditor established winding-up under old Act; dispute not bona fide. Company law – Transitional provisions – Item 9 of Schedule 5 to the new Companies Act – Chapter 14 of old Companies Act continues to govern winding-up of insolvent companies pending new legislation. "Solvent"/"insolvent" – include commercial insolvency (inability to pay debts as they fall due) as well as referent to actual insolvency depending on context. Creditor's locus standi – s346(1)(b) permits reliance on contingent/prospective claims. Close Corporations Act s69 – demand and non-payment prima facie establish inability to pay. Disputed debt – respondent must show bona fide dispute on reasonable grounds to defeat winding-up application.	31 October 2012

Citation

Judgment date

October 2012

Standard Bank of South Africa Ltd v R-Bay Logistics CC (4165/2012) [2012] ZAKZDHC 69 (31 October 2012)

Reported

Transitional Company Act: "solvent" includes commercial solvency; creditor established winding-up under old Act; dispute not bona fide.

Company law – Transitional provisions – Item 9 of Schedule 5 to the new Companies Act – Chapter 14 of old Companies Act continues to govern winding-up of insolvent companies pending new legislation. "Solvent"/"insolvent" – include commercial insolvency (inability to pay debts as they fall due) as well as referent to actual insolvency depending on context. Creditor's locus standi – s346(1)(b) permits reliance on contingent/prospective claims. Close Corporations Act s69 – demand and non-payment prima facie establish inability to pay. Disputed debt – respondent must show bona fide dispute on reasonable grounds to defeat winding-up application.

31 October 2012