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AI summary
The High Court in Pretoria considered an application to liquidate F and A Properties CC arising from an alleged unpaid debt and a section 69 demand. It found the respondent’s evidence insufficient to displace the presumption arising from non-compliance with the demand and ordered final liquidation.
This may be relevant to insolvency and corporate liquidation matters involving close corporations and section 69 demands.
Evidence from source
The applicant seeks the liquidation of the respondent on the basis of an alleged unpaid indebtedness arising from an oral agreement concluded during or about August 2022.
Supports: The matter concerns a liquidation application based on an alleged debt.
A statutory demand in terms of section 69 of the Close Corporations Act was served on the respondent on 2 December 2024, and it is contended that the respondent has failed to discharge, secure, or compound the debt
Supports: The text refers to a section 69 demand and non-compliance.
The respondent, F and A Properties CC (registration number: 1991/015446/23), is placed in final liquidation.
Supports: The court order grants final liquidation.