Case Law[2022] ZASCA 67South Africa
Imobrite (Pty) Ltd v DTL Boerdery CC (1007/2020) [2022] ZASCA 67 (13 May 2022)
Supreme Court of Appeal of South Africa
13 May 2022
Headnotes
Summary: Close corporation - winding-up – proper interpretation of s 69 of Close Corporation Act 69 of 1984 - whether application for winding-up brought by secured creditor constituted abuse of court’s processes – unpaid creditor generally entitled to winding-up ex debito justitiae against corporation unable to pay its debts – discretion to nevertheless refuse winding-up order – whether discretion not to grant the winding-up order was properly exercised – appeal upheld.
Judgment
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## Imobrite (Pty) Ltd v DTL Boerdery CC (1007/2020) [2022] ZASCA 67 (13 May 2022)
Imobrite (Pty) Ltd v DTL Boerdery CC (1007/2020) [2022] ZASCA 67 (13 May 2022)
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sino date 13 May 2022
THE SUPREME COURT OF
APPEAL OF SOUTH AFRICA
JUDGMENT
Not
reportable
Case
No:
1007/2020
In
the matter between:
IMOBRITE
(PTY)
LTD
APPELLANT
and
DTL
BOERDERY
CC
RESPONDENT
Neutral Citation:
Imobrite (Pty) Ltd v DTL Boerdery CC
(1007/20)
[2022] ZASCA 67
(May 2022)
Coram:
VAN DER MERWE, MOLEMELA, MAKGOKA and CARELSE JJA and MUSI AJA
Heard:
04 March 2022
Delivered:
13 May 2022.
Summary:
Close corporation - winding-up – proper interpretation of s 69
of Close Corporation Act 69 of 1984
- whether application for
winding-up brought by secured creditor constituted abuse of court’s
processes – unpaid creditor
generally entitled to winding-up
ex
debito justitiae
against corporation unable to pay its debts –
discretion to nevertheless refuse winding-up order – whether
discretion
not to grant the winding-up order was properly exercised –
appeal upheld.
ORDER
On
appeal from
: The North West Division of the High Court, Mahikeng
(Nobanda AJ sitting as court of first instance):
The
following order is therefore granted:
1.
The appeal is upheld.
2.
The order of the high court is set aside
and replaced with the following:
‘
(a)
The respondent close corporation, DTL Boerdery CC, is placed under a
provisional order of winding-up in the hands of the Master
of the
North West Division of the High Court, Mahikeng (high court).
(b) A rule nisi is issued
calling upon the respondent and all interested parties to show cause,
if any, to the high court within
six weeks of the date of issuance of
this order, as to why:
(i) the respondent should
not be placed under a final order of winding-up; and
(ii) the costs of this
application should not be costs in the winding-up of the respondent.
(c) Service of this order
shall be effected:
(i) by the sheriff of the
high court or his lawful deputy on the registered office of the
respondent;
(ii) on the South African
Revenue Services;
(iii) by publication in
one edition each of the Sunday Times and a newspaper circulating in
the area where the respondent carries
on business and in the
Government Gazette;
(iv) by registered post
on all known creditors of the respondent with claims in excess of R25
000;
(v) on the employees of
the respondent in terms of s 346A(1)(b) of the Companies Act 61 of
1973; and
(vi) on any registered
trade union that the employees of the respondent may belong to.
(c) Costs to be costs in
the winding-up.’
JUDGMENT
Molemela
JA (Van der Merwe, Makgoka, Carelse JJA and Musi AJA concurring):
Introduction
[1]
Central in this appeal is the question of whether the North West
Division
of the High Court, Mahikeng, correctly refused the
appellant’s application for the winding-up of the respondent
close corporation.
Background
[2]
The appellant, a private company, agreed to lend an amount of
R2 750 000
to the respondent, a close corporation, and the
respondent’s sole member, Mr Tielman Kotze (Mr Kotze). This
agreement was
recorded in an acknowledgement of debt (AOD) signed on
15 May 2018. The AOD inter alia acknowledged that the respondent and
Mr
Kotze had procured a loan from the appellant for the capital
amount of R2 750 000 and that they would repay the capital
plus interest thereon in ten yearly instalments of R791 495.95.
In addition to interest, the respondent and Mr Kotze also
agreed to
pay a ‘facilitation fee’ to the appellant. It was agreed
that the first instalment would be payable on or
before 7 May 2019
and thereafter on or before 7 May of each consecutive year. The AOD
also stipulated that in the event that the
debtor remained in default
10 days after receiving notice to repair the breach, then the
appellant, as the creditor, would be entitled
to exercise any remedy
at its disposal in terms of the law, including to cancel the
agreement and retain all payments already made.
[3]
It is common cause that the appellant was a secured creditor of the
respondent
and held a special and general notarial bond over the
respondent’s movable assets for an amount of R2 750 000,
together with an additional amount of R540 000 in respect of
costs. In addition, a first ranking covering mortgage bond had
been
registered in favour of the appellant over the respondent’s
farm.
[4]
It is also common cause that the respondent failed to pay the first
instalment
by the due date, namely 7 May 2019. As a result, the
appellant delivered a letter of demand to the respondent. On 20 May
2019,
the appellant sent a letter to the respondent, drawing its
attention to its failure to pay the first instalment in accordance
with
the AOD. In its response dated 3 June 2019, the respondent
called for a statement of account and intimated that upon receipt
thereof,
the respondent and Mr Kotze would proceed to apply for
alternative funding from a third party in order to liquidate their
indebtedness.
In the same response, the respondent disputed the date
from which interest was payable and queried the facility fee
computation.
[5]
On 21 June 2019, the appellant issued a statutory demand as
contemplated
in
s 69
of the
Close Corporations Act, 69 of 1984
. The
Sheriff properly served the demand. On 5 August 2019, the attorneys
for the respondent sent a letter to the appellant’s
attorney,
referring to previous correspondence and recording that it was
disputing any indebtedness to the appellant. It was also
contended
that the provisions of the National Credit Act 34 of 2005 (the NCA)
were applicable, but that the appellant had failed
to comply with its
requirements. Lastly, the letter stated that any application seeking
the winding-up of the respondent would
be opposed.
[6]
It is against the aforesaid background facts that the appellant, on
13 September 2019,
launched an application for the winding-up of the
respondent in the North West Division of the High Court, Mahikeng
(the high court)
on the basis that DTL was unable to pay its debts.
In the answering affidavit, the respondent raised a number of
defences. However,
not all of the defences raised persisted when the
application came before the high court. Two points
in limine
were raised. The first point
in limine
was that the respondent
disputed that it alone was a debtor of the appellant and, on that
basis, contended that the appellant had
no
locus standi
to
bring the winding-up proceedings against it individually. The
argument was raised that the debtor, as described in the
acknowledgement
of debt, referred not only to the respondent but to
both the respondent and Mr Kotze. On this basis, it was contended
that the
acknowledgement of debt had created a special
sui generis
kind of debtor which can only be held jointly liable and as the
appellant had not joined Mr Kotze, the appellant was not entitled
to
pursue the proceedings against the respondent. The second point
in
limine
was to the effect that the acknowledgement of debt was a
written record of a loan agreement where the appellant had granted
credit
recklessly and in violation of the relevant provisions of the
NCA).
[7]
Substantively, the respondent persisted with the defence that the
appellant was abusing
the winding-up proceedings in order to enforce
a debt for which the appellant enjoyed adequate security. The high
court rejected
the points
in limine
. Relying on its
interpretation of the provisions of
s 69(1)
(a)
of the
Close
Corporations Act, it
found that the appellant’s application for
the respondent’s winding-up constituted an abuse of the court’s
processes.
Therefore, the high court dismissed the application with
costs, notwithstanding that all the requirements for a winding-up
order
had been complied with.
[8]
Aggrieved by that decision, the appellant sought the high court’s
leave to appeal
its order and was granted leave to appeal to this
Court. Before this Court, the respondent applied for the late filing
of its heads
of argument to be condoned. The appellant did not oppose
that application. At the commencement of the appeal hearing, the
application
for condonation was granted on the basis that the
respondent had made out a proper case, warranting that the delay in
filing the
heads of argument be condoned. The issues raised as points
in limine which the high court dismissed need not detain us, as they
were no longer pursued before us. I turn now to the legal principles
applicable to the merits of this appeal.
Applicable
Legal Position
[9]
The winding-up of a Close Corporation is regulated
by s 66 of the Close Corporations Act
69 of 1984 (Close
Corporations Act) as amended
. The applicability of
the Companies Act 61 of 1973 to the winding up of close corporations
is set out as follows in
s 66
of the
Close Corporations Act:
‘
(1
)
The laws mentioned or contemplated in item 9 of Schedule 5 of the
Companies Act, read with the changes required by the context,
apply
to the liquidation of a corporation in respect of any matter not
specifically provided for in this Part or in any other provision
of
this Act.’
[1]
Notably,
s 66
(2) of the
Close Corporations Act provides
that for the purposes
of subsection (1), any reference
in a relevant
provision of the Companies Act, and in any provision of the
Insolvency Act 24 of 1936
, made applicable by any such provision to a
company, shall be construed as a reference to a corporation.
[10]
Section 69(1)
of the
Close Corporations Act provides
that for the
purposes of
s 68
(c)
, a corporation shall be deemed to be
unable to pay its debts, if-
‘
(a)
a creditor, by cession or otherwise, to whom the corporation is
indebted in a sum of not less than two hundred rand then due
has
served on the corporation, by delivering it at its registered office,
a demand requiring the corporation to pay the sum so
due, and the
corporation has for 21 days thereafter neglected to pay the sum or to
secure or compound for it to the reasonable
satisfaction of the
creditor; or
(b)
any process issued on a judgment, decree or order of any court in
favour of a creditor of the corporation is returned by a sheriff,
or
a messenger of a magistrate's court, with an endorsement that he or
she has not found sufficient disposable property to satisfy
the
judgment, decree or order, or that any disposable property found did
not upon sale satisfy such process; or
(c)
it is proved to the satisfaction of the Court that the corporation is
unable to pay its debts.
(2)
In determining for the purposes of subsection (1) whether a
corporation is unable to pay its debts, the Court shall also take
into account the contingent and prospective liabilities of the
corporation.’
[11]
The requirements set out in
s 69
need not be met cumulatively, as the
conjunction ‘or’ is used after paragraphs (a), (b), and
(c) of subsection (1).
In this matter, it is common cause that in
order to establish the requirement that the
respondent is unable to pay its debts, the appellant relied upon the
respondent’s
inability to pay an undisputed debt within the
statutorily allowed period of 21 days after receiving the statutory
demand. For
this, the appellant relied upon the deeming provision
contained in
s 69(1)
(a)
of the
Close Corporations Act.
The appellant’s
application was also premised on
s 69(1)
(c)
of the Close
Corporation.
[12]
Section 344 of the Companies Act 61 of 1973 (the 1973 Companies Act)
is the source of authority
that vests a court with the power to
liquidate a company.
[2]
The
relevant part of s
344
provides as follows:
‘
The
court may grant or dismiss any application under section 346, or
adjourn the hearing thereof, conditionally or unconditionally,
or
make any interim order or any other order it may deem just . . .’.
Interpretation
of s 69 of Close Corporation Act
[13]
The
language
in s 69(1)
(a)
of the
Close Corporations Act is
clear and unequivocal. On a plain
reading of that provision and noting the usage of the word
‘thereafter’, it is evident
that a creditor will be
entitled to rely upon the deeming provision if, the close corporation
has for 21 days after the demand
has been made as contemplated in the
section, neglected to either pay the sum due to the creditor, or to
secure or compound for
it to the reasonable satisfaction of the
creditor. ‘Secure’ within the context of that section
means that the close
corporation must provide security or additional
security which is to the creditor’s satisfaction within 21 days
after the
statutory demand. To interpret the section as meaning that
the deeming provision will not apply if, prior to the demand, the
creditor
already had sufficient security to cover the debt would be
to strain the clear language of the section. It would mean that many
creditors, such as financial institutions that regularly procure
security to secure debts, would hardly be able to rely upon the
deeming provision, and thus, the winding-up process would never be
available to them. That meaning would simply lead to insensible
or
unbusinesslike results.
[3]
The
high court’s interpretation of
s 69
(1) was plainly wrong, and
the concession by the respondent’s counsel on that aspect was
therefore rightly made. It is now
convenient to consider whether the
appellant’s application for winding-up constituted an abuse of
the court process.
Was
there an abuse of court processes?
[14]
It is trite that, by their very nature, winding-up proceedings are
not designed to resolve
disputes pertaining
to the existence or non-existence of a debts. Thus, winding-up
proceedings ought not to be resorted to enforce
a debt that is bona
fide (genuinely) disputed on reasonable grounds.
That
approach is part of the broader principle that the court’s
processes should not be abused.
[15]
A winding-up order will not be granted where the sole or predominant
motive or purpose of seeking
the winding-up order is something other
than the bona fide bringing about of the company’s
liquidation.
[4]
It would also
constitute an abuse of process if there is an attempt to enforce
payment of a debt which is bona fide disputed, or
where the motive is
to oppress or defraud the company or frustrate its rights.
[5]
[16]
In this matter, it can hardly be disputed that the respondent had no
valid defence against the
appellant’s claim. First, not a
single instalment had been paid in repayment of the debt. Second, the
indebtedness in respect
of the capital amount was not disputed at any
stage; instead, the respondent’s claim that the debt was
incorrectly calculated
was based on the alleged miscalculation of
interest and the facility fee. Notably, despite remaining in default
beyond the 21-day
period stipulated in the statutory demand, the
respondent failed to tender to pay what is considered to be the
correct amount,
nor did it make any suggestions regarding how to
discharge its indebtedness, save to mention that it and Mr Kotze
would obtain
alternative financing once the amount of the debt had
been corrected. Under these circumstances, there can be no merit in
the suggestion
that the appellant was attempting to enforce payment
of a debt which was bona fide disputed. That being the case, it
cannot be
accepted that the appellant’s application was
predicated on any reason other than the bona fide bringing of
winding-up proceedings.
Therefore, the respondent has not shown that
the winding-up proceedings constituted an abuse of the court’s
process. Counsel
for the respondent’s concession on this aspect
was therefore correctly made.
[17]
In the written heads of argument, it was contended on behalf of the
respondent contended that
a creditor cannot utilise the liquidation
process to claim a debt due by the debtor to one single creditor.
Before us, counsel
for the respondent seemed to suggest that the
reason why a winding-up order cannot be granted where there was a
single creditor
was because a
concursus
creditorum
could not established. However, he conceded, correctly in my view,
that the authorities to which we were referred in the written
heads
of argument do not support that proposition.
[6]
Therefore, there is no need for this aspect to detain us. It suffices
merely to reaffirm that the concept of
concursus
creditorum
(which refers to the establishment of a ‘body of creditors’
for purposes of distributing the estate among creditors)
is not a
prerequisite for the granting of a winding-up order but rather a
consequence of the winding-up order by operation of law.
[7]
The
exercise of the discretion to grant a winding-up order
[18]
Having conceded before us that the high court’s interpretation
of
s 69
was wrong and that the appellant’s application did not
constitute an abuse of the court’s processes, counsel for the
respondent had another string to the respondent’s bow; he urged
this Court to accept that the discretion to refuse the winding-up
order (notwithstanding the appellant’s compliance with all the
formalities prescribed in
s 69(1)
of the
Close Corporations Act) was
properly exercised. This was because the appellant had a mortgage
over the respondent’s fixed property, and the special notarial
bond secured over movable property. It was therefore contended that
the properties in question may, upon execution, yield more
than the
value of the claim.
[19]
It is well-established that t
he
two types of discretion exercised by courts are often referred to as
a discretion in the strict/narrow/true sense and a discretion
in the
broad/wide/loose sense.
[8]
In
the context of an application for business rescue, this Court in
Oakdene
Square Properties v Farm Bothasfontein (Oakdene)
,
[9]
observed that the term ‘discretion’ is sometimes used in
the loose sense to indicate no more than the application of
a value
judgment. Furthermore, this Court in
Oakdene
explained that where the ‘discretion’ exercised by the
lower court was one in the loose sense of a value judgment,
the
limitation imposed on the authority of the court of appeal to
interfere does not apply. Moreover, it pointed out that ‘in
that event the court of appeal is both entitled, and in fact
duty-bound, to interfere if it would have come to a different
conclusion.’
[20]
In
Afgri
Operations Limited v Hamba Fleet (Pty) Ltd,
[10]
this Court reaffirmed that
an unpaid creditor has a right,
ex
debito justitiae
,
to a winding-up order against a company that has not discharged its
debt.
[11]
Notably,
it also reaffirmed the trite principle that the refusal of a
winding-up order under such circumstances entails the exercise
of a
narrow discretion.
[12]
The
following observations in
Boschpoort
Ondernemings (Pty) Ltd v Absa Bank Limited
[13]
appositely
illustrate that the mere fact that there may be more value than the
claim is not, without more, sufficient to sway a
court towards
exercising the discretion in favour of a debtor:
‘
[17]
That a company’s commercial insolvency is a ground that will
justify an order for its liquidation has been a reality
of law which
has served us well through the passage of time. The reasons are not
hard to find: the valuation of assets, other than
cash, is a
notoriously elastic and often highly subjective one; the liquidity of
assets is often more viscous than recalcitrant
debtors would have a
court believe; more often than not, creditors do not have knowledge
of the assets of a company that owes them
money - and cannot be
expected to have; and courts are more comfortable with readily
determinable and objective tests such as whether
a company is able to
meet its current liabilities than with abstruse economic exercises as
to the valuation of a company’s
assets.
[14]
(Footnote omitted).
[21]
In summing up, it bears emphasising that the exercise of discretion
in favour of not granting
a liquidation order must be based on a
solid factual foundation. As mentioned in the foregoing paragraphs,
that factual foundation
is missing from the facts presented by the
respondent in the answering affidavit. In the face of a compelling
case made by the
appellant for granting a winding-up order, the
respondent did not raise a
bona fide
defence to the claim.
Instead, it relied on untenable technical defences. These were
rightly rejected by the high court.
[22]
It
is well-established that an appellate court may interfere with the
exercise of a discretion in the true sense by a court of the
first
instance only if it can be demonstrated that the latter court
exercised its discretion capriciously or on a wrong principle,
or has
not brought an unbiased judgment to bear on the question under
consideration, ‘or has not acted for substantial reasons’.
[15]
[23]
The impression that I get from the whole tenor of the high court’s
judgment is that it
accepted that there was no dispute regarding the
respondent’s indebtedness but made much of the fact that the
appellant held
securities in the full amount of the principal debt,
which prompted it to exercise the residual discretion not to grant
the winding
up order.
[16]
I am
also of the view that the high court’s wrong interpretation of
the concept ‘secured debt’ in
s 69(1)
(a)
fettered its exercise of the residual discretion whether or not to
grant a winding-up order; the result is that it exercised its
discretion on the basis of wrong principles. In the absence of facts
supporting the exercise of a discretion in favour of the respondent,
there was no justification for the high court refusing to grant the
winding-up order. Therefore, this Court is, at large to interfere
with the discretion exercised by the high court. For the reasons
canvassed in paragraphs 20 and 21 above, the proper exercise of
discretion ought to be in favour of granting the winding-up order
sought by the appellant. It follows that the appeal ought to
succeed.
[24]
The affidavits show that the appellant has established an
incontestable prima facie case for
granting a winding-up order,
[17]
and therefore a right to a provisional order. Given the trite
principle that it is well within the powers of the court to grant
a
final order of liquidation instead of a provisional order,
[18]
the next question for consideration is whether the winding-up order
substituting the order of the high court should be provisional
or
final. Generally, it is a well-established practice that a
provisional order of liquidation should issue. The purpose of the
practice is to afford interested parties, especially creditors, an
opportunity to support or oppose a final liquidation. There
is no
reason to depart from the general practice in this case.
The
respondent’s business is a farming enterprise.
It
may very well have other creditors than the appellant. Some new
developments might have occurred since the refusal of the winding-up
application.
New
employees
oblivious of this litigation may have been employed in the
intervening time between the handing down of the judgment of
the high
court and the finalisation of this appeal. It is therefore not
inconceivable that
further
relevant facts might be forthcoming if a rule
nisi
is
issued. Thus,
a
provisional order will best serve the interests of justice in this
matter.
[25]
The following order is therefore granted:
1.
The appeal is upheld.
2.
The order of the high court is set aside
and replaced with the following:
‘
(a)
The respondent close corporation, DTL Boerdery CC, is placed under a
provisional order of winding-up in the hands of the Master
of the
North West Division of the High Court, Mahikeng (high court).
(b) A rule nisi is issued
calling upon the respondent and all interested parties to show cause,
if any, to the high court within
six weeks of the date of issuance of
this order, as to why:
(i) the respondent should
not be placed under a final order of winding-up; and
(ii) the costs of this
application should not be costs in the winding-up of the respondent.
(c) Service of this order
shall be effected:
(i) by the sheriff of the
high court or his lawful deputy on the registered office of the
respondent;
(ii) on the South African
Revenue Services;
(iii) by publication in
one edition each of the Sunday Times and a newspaper circulating in
the area where the respondent carries
on business and in the
Government Gazette;
(iv) by registered post
on all known creditors of the respondent with claims in excess of R25
000;
(v) on the employees of
the respondent in terms of s 346A(1)(b) of the Companies Act 61 of
1973; and
(vi) on any registered
trade union that the employees of the respondent may belong to.
(c) Costs to be costs in
the winding-up.’
M
B Molemela
Judge
of Appeal
Appearances:
For
appellant: Adv
MP van der Merwe SC
Instructed
by: Leahy
Attorneys, Pretoria
McIntyre
van der Post, Bloemfontein
For
respondent: Adv S Grobler SC
Instructed
by: Kotze Low &
Swanepoel, Vryburgh
Dippenaar
& Crous Attorneys, Bloemfontein
[1]
The
Companies Act referred to in this part is the Companies Act 71 of
2008 (the 2008
Companies Act). Schedule
5 of the 2008
Companies Act
deals
with ‘transitional arrangements’. The relevant
subitems of item 9 of schedule 5 provide that:
‘
(1)
Despite the repeal of the previous Act, until the date determined in
terms of subitem (4), Chapter 14 of that Act continues
to apply with
respect to the winding-up and liquidation of companies under this
Act, as if that Act had not been repealed subject
to subitems (2)
and (3).
(2)
Despite subitem (1), sections 343, 344, 346 and 348 to 353 do not
apply to the winding-up of a solvent company, except to
the extent
necessary to give full effect to the provisions of Part G of Chapter
2.
(3)
If there is a conflict between a provision of the previous Act that
continues to apply in terms of subitem (1), and a provision
of Part
G of Chapter 2 of this Act with respect to a solvent company, the
provision of this Act prevails.’ (Emphasis added.)
No date has
been determined to affect the interim or transitional operation of
item 9 of schedule 5. Chapter 14 of the old Act
therefore continues
to apply. Section 345 of the old Act falls within chapter 14 of the
old Act and, accordingly, in terms of
subitem 9(1) of schedule 5 in
new Act. Section 345 continues to apply with respect to the
winding-up and liquidation of companies
as if the old Act had not
been repealed. Subitem 9(1) is nevertheless subject to subitems 9(2)
and (3). Subitem 9(2) excludes,
however, s 344 of the old Act from
the winding-up of solvent companies.’
[2]
See
Ex
Parte Muller NO: In Re P L Myburgh (EDMS) Bpk
[1979]
3 All SA 721
(N);
1979 (2) SA 339(N)
at
340.
[3]
Natal
Joint Municipal Pension Fund v Endumeni Municipality
[2012] 2 All SA 262
(SCA);
[2012] ZASCA 13
(SCA);
2012 (4) SA 593
(SCA) para 18-23.
[4]
See
Badenhorst
v Northern Construction Enterprises (Pty) Ltd
1956 (2) SA 346
(T). That principle has been so entrenched in our
law that it has become known as ‘the Badenhorst rule’.
[5]
Henochsberg
on the
Companies Act
Issue
23 at 694.
[6]
In
the written heads of argument, we were referred to two judgments of
this Court, namely,
Collett
v Priest
1931 AD 290
at 299 and
Body
Corporate of Empire Gardens v Sithole and Another
[2017] ZASCA 28
;
2017 (4) SA 161
(SCA), as authorities for the
proposition that ‘the liquidation process cannot be fittingly
described as a mechanism to
be utilised by a creditor to claim a
debt due by the debtor to one single creditor’.
[7]
Walker
v Syfret NO
1911
AD 141
at 160. See also s 347 (14) of the Companies Act 61 of 1973.
[8]
Trencon
Construction Pty Ltd v Independent Development Corporation and
Others
[2015]
ZACC 22
;
2015 (5) SA 245
(CC);
2015 (10) BCLR 1199
(CC)
para
82 footnote 65.
[9]
Oakdene
Square Properties v Farm Bothasfontein (Kyalami)
[2013]
ZASCA 68
;
2013 (4) SA 539
;
[2013] 3 All SA 303
(SCA) para 18.
[10]
Afgri
Operations Limited v Hamba Fleet (Pty) Ltd
[2017]
ZASCA 24
;
2022 (1) SA 91
(SCA) para 12.
See
also
De
Waard v Andrew and Thienhaus Ltd
1907 TS 727
at 733 and
Service
Trade
Supplies ltd v Dasco and Sons Ltd
1962 (3) SA 424
(T) at 428B-D to which reference was made, with
approval, by this court in
Sammel
and others v President Brand Gold Mining Company Ltd
1969
(3) SA 629
(A) at 662F.
[11]
See
Dippenaar
NO and Others v Business Venture Investments NO 134 (Pty) Ltd and
Another
[2014]
ZAWCHC 7
; [
2014]
2 All SA 162
(WCC), where it was held that the
ex
debito justitiae
maxim conveys no more than that, once a creditor has satisfied the
requirements for a liquidation order, the court may not on
a whim
decline the order.
[12]
Afgri
Operations Limited v Hamba Fleet (Pty) Ltd
[2017]
ZASCA 24
;
2022 (1) SA 91
(SCA) para 12-13.
[13]
Boschpoort
Ondernemings (Pty) Ltd v Absa Bank Limited
[2013] ZASCA 173; [2014] 1 All SA 507 (SCA); 2014 (2) SA 518 (SCA).
[14]
Ibid
para
17-18.
[15]
Trencon
Construction Pty (Ltd) v Industrial Development Corporation of South
Africa Limited and Another
[2015]
ZACC 22
;
2015 (5) SA 245
(CC);
2015 (10) BCLR 1199
(CC)
para
88-89;
Hotz
and Others v University of Cape Town
[2017]
ZACC 10
;
2017 (7) BCLR 815
(CC);
2018 (1) SA 369
(CC) para 28.
[16]
This
is evident from paras 20-24 of the high court’s judgment.
[17]
Afgri
Operations Limited v Hamba Fleet (Pty) Ltd
[2017]
ZASCA 24
para 9.
[18]
Johnson
v Hirotec (Pty) Ltd
[2000] ZASCA 131
;
2000
(4) SA 930
(SCA) para 9;
Afgri
Operations Limited v Hamba Fleet (Pty) Ltd
[2017] ZASCA 24
;
2022 (1) SA 91
(SCA) para 19.
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