Legal Counsel – Dispute Resolution & Judgments – Supreme Court of Appeal (SCA) – Supreme Court of Appeal: 2022-2020

May 12, 2022 | Uncategorised

12 May 2022 – Companies Act, 2008

Lutchman N.O. and Others v African Global Holdings (Pty) Ltd and Others; African Global Holdings (Pty) Ltd and Others v Lutchman N.O. and Others (1088/2020 and 1135/2020) [2022] ZASCA 66 (10 May 2022)

Company law – business rescue – Companies Act 71 of 2008 – s 131(6) –interpretation – s 131(6) provides for the suspension of liquidation proceedings at the time a business rescue application is made – meaning of when business rescue application is ‘made’ – business rescue application must be issued, served by the sheriff on the company and the Commission, and each affected person must be notified of the application in the prescribed manner, to meet the requirements of s 131(6) in order to trigger the suspension of the liquidation proceedings – practice – judgments and orders – interpretation of order – applicable principles – determining the manifest purpose of the order – to be determined by also having regard to the relevant background facts which culminated in it being made

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