Interesting Judgment: Oakbay Investments v Tegeta Exploration & Resources and Others
24 May 2021
Attached a judgment handed down in the Supreme Court of Appeal on Friday.
The judgment concerns the interpretation of section 139(2)(a) of the Companies Act 71 of 2008 and the question as to whether a possible dispute over intercompany loans necessarily gives rise to a conflict of interest warranting the removal of business rescue practitioners who have been appointed in a group of companies that were placed under supervision.
Kindly sent to us by Bouwer van Niekerk of Smit Sewgoolam Inc and Haroon Laher of Fasken Inc.
Media Summary: Oakbay Investments v Tegeta Exploration