Judgments

Interesting Judgment: Reserve Bank & Another v JWE Maddocks & Another

01 February 2023

Members,

Please find attached a judgment handed down by the SCA on the 23rd of January 2023.

The Court found that a forfeiture order issued in terms of Regulation 22B after the winding-up of a company is not nullified by the winding–up order. The issuance of the blocking order and forfeiture order does not render the South African Reserve Bank a creditor of the insolvent company, the forfeiture order was found to be competent.

Kindly sent to us by Haroon Laher of Fasken Inc.

Take care
René Bekker
Chief Operating Officer

  Judgment: Reserve Bank & Another v JWE Maddocks & Another. SCA Case no: 1268/2021

  Media Summary: Reserve Bank & Another v JWE Maddocks & Another

 

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