Lyconet Austria Gmbh v Weighelhofor and Others (2023/082122) [2024] ZAGPJHC 72 (31 January 2024)

begin wrapper begin container begin header begin slogan-floater end slogan-floater - About SAFLII About SAFLII - Databases Databases - Search Search - Terms of Use Terms of Use - RSS Feeds RSS Feeds end header begin main begin center # South Africa: South Gauteng High Court, Johannesburg South Africa: South Gauteng High Court, Johannesburg You are here: SAFLII >> Databases >> South Africa: South Gauteng High Court, Johannesburg >> 2024 >> [2024] ZAGPJHC 72 | Noteup | LawCite sino index ## Lyconet Austria Gmbh v Weighelhofor and Others (2023/082122) [2024] ZAGPJHC 72 (31 January 2024) Lyconet Austria Gmbh v Weighelhofor and Others (2023/082122) [2024] ZAGPJHC 72 (31 January 2024) Download original files PDF format RTF format make_database: source=/home/saflii//raw/ZAGPJHC/Data/2024_72.html sino date 31 January 2024 IN THE HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION, JOHANNESBURG CASE NO: 2023-082122 1. Reportable:   No 2.Of interest to other judges:  No 3. Revised 31 January 2024 In the matter between: LYCONET AUSTRIA GmBH                                               Intervening Applicant And ALBERT WEIGHELHOFER                                                First Respondent WAYNE KRAMBECK                                                          Second Respondent ONICAFLEX (PTY) LTD                                                      Third Respondent RALPH FARREL LUTCHMAN N.O                                    Fourth Respondent LINDIWE FLORENCE KAAB N.O                                      Fifth Respondent LYCONET SOUTH AFRICA (PTY) LTD                              Sixth Respondent (in liquidation) MASTER OF THE HIGH COURT – JOHANNESBURG     Seventh Respondent In re : ALBERT WEIGLHOFER                                                     First Applicant WAYNE KRAMBECK                                                          Second Applicant ONICAFLEX (PTY) LTD                                                      Third Applicant and LYCONET SOUTH AFRICA (PTY) LTD                               Respondent JUDGMENT WRIGHT J - The applicants in the main application sought the final winding up of the respondent, Lyconet South Africa. On 12 September, 2023 such an order was granted. On 20 October, 2023 the order was rescinded and Lyconet was placed in provisional winding up with a return day of 29 January, 2024. The applicants in the main application sought the final winding up of the respondent, Lyconet South Africa. On 12 September, 2023 such an order was granted. On 20 October, 2023 the order was rescinded and Lyconet was placed in provisional winding up with a return day of 29 January, 2024. - Before me now is the question of what is to happen on the return day. Before me now is the question of what is to happen on the return day. - The matter is not ready to proceed as various documents like heads of argument are not on file. The matter is not ready to proceed as various documents like heads of argument are not on file. - In the meantime, Lyconet Austria, the holding company of Lyconet South Africa, seeks to intervene as a party, or has been admitted as a party. It is not necessary to go further into this question. In the meantime, Lyconet Austria, the holding company of Lyconet South Africa, seeks to intervene as a party, or has been admitted as a party. It is not necessary to go further into this question. - The original applicants for winding up now seek a postponement with extension of the provisional winding up. The grounds relied on include the unreadiness of the matter for hearing and the need for the provisional liquidators to look into the matter. This case concerns allegations that Lyconet South Africa ran a Ponzi scheme. In my view, justice requires extension of the rule.ORDER The original applicants for winding up now seek a postponement with extension of the provisional winding up. The grounds relied on include the unreadiness of the matter for hearing and the need for the provisional liquidators to look into the matter. This case concerns allegations that Lyconet South Africa ran a Ponzi scheme. In my view, justice requires extension of the rule. ORDER 1. The provisional liquidation of the respondent is extended to 13 May, 2024, opposed roll. 2. Costs reserved. GC Wright Judge of the High Court Gauteng Division, Johannesburg HEARD                            :31 January 2024 DELIVERED                    :31 January 2024 APPEARANCES    : INTERVENING APPLICANT Adv C Bothma SC Adv W Bezuidenhout advwillem@gmail.com 082 780 6067 Adv S Mathe Instructed by                           SKV Attorneys psmith@skvattorneys.co.za 1 ST TO 3 RD RESPONDENTS Adv N Cassim SC 083 308 3094 ncassim@law.co.za L Acker 082 853 9883 lizelle@ackerlaw.co.za Instructed by                           Magda Kets Attorneys 082 371 5376 admin2@magdakets.co.za / admin5@magdakets.co.za sino noindex make_database footer start