Interesting Judgment: Centaur Mining SA v C Murray & Others

14 September 2022

Members,

Please find attached a judgment handed down yesterday by Wepener J.

This was an application for the rescission of an order of this court. The judgement firstly sets out the Court’s jurisdiction/discretion when considering and making Section 20(9) orders and whether the section in any way limits the Court’s jurisdiction. Both these questions were considered against the position the Court adopted in the recent judgment in Barak Fund SPC Ltd vs Insure Group.

The Court found that the section does not limit the jurisdiction of the Court to make appropriate orders in terms of the empowering section and importantly that the target companies need not be liquidated prior to being subject to a section 20(9) order. The Barak Fund judgment, in its obiter dicta, left the suggestion that a target company must be wound up before it can be collapsed into another entity in terms of a section 20(9) order.

Kindly sent to us by Cloete Murray of Sechaba Trust.

Take care
René Bekker
Chief Operating Officer

  Judgment: Centaur Mining South Africa v C Murray & Others. Case: 37520/2021