Malan liquidating

Prior to the provisional liquidation of Piaswrap DF Malan Attorneys ("DF Malan") were the attorneys acting for Piaswrap.DF Malan has also been the attorneys for the Applicants in their capacities as provisional and final liquidators.[2] On 26 March 2009 the Applicants launched an application against the Respondent the purpose of which was to secure an order in terms of section 69 (3) of the Insolvency Act 24 of 1936 ("the Insolvency Act") authorizing the Sheriff to seize the movable assets listed in Annexure "A" to the Notice of Motion from the Respondent, and deliver same to the Applicants. Wallace stated that Plaswrap was placed under liquidation on 14 November 2007 and that on Louise Groenewald, Xoliswa Eunice Daku and himself, were appointed as joint liquidators by the Master of the High Court - this being evident from the Masters' certificate of appointment Annexure "Wl" to the Founding papers. Wallace defined the Respondent as a company with a share capital, duly incorporated in terms of the Act with registered office at 2[4] As the liquidator, Mr.The nature of this matter is such that one would deal with it better if one first summarizes the papers. Wallace the Respondent paid the purchase price into the trust account of DF Malan Attorneys as envisaged by the agreement. Wallace gave a historical overview of the matter by stating that after the appointment of provisional liquidators an agreement which would replace Annexure "W2” was proposed and a draft prepared.This was, however, at a later date upon the insistence of the Respondent, repaid against an undertaking by the Respondent that the purchase price would be repaid within one month into the DF Malan trust account. This proposed agreement is annexed to the Founding papers as Annexure "W3'\ As clause 3.5 of Annexure "W3" shows, the Respondent had since 1 December 2007 (with the permission of joint provisional liquidators) conducted the business for its own account pending the conclusion of an envisaged transaction whereby it would (with effect from 1 December 2007) purchase the assets of Piaswrap on a going concern basis for R1.3 million subject to certain conditions.[6] According to Mr.

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O, (the liquidators) in their capacities as the joint liquidators of Africa Plastics Holdings (Pty) Ltd (in liquidation).

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