This is an AI-generated summary of a selected monitored public legal source and may omit context. It is general information only, not legal advice, and is not a substitute for reading the source or consulting an attorney.
AI summary
The Supreme Court of Appeal dealt with a dispute about the appointment of final liquidators for Boxberry Express (Pty) Ltd. It held that, where no creditor attended the first meeting and no nomination was made, s 18(4) of the Insolvency Act required the Master to appoint the provisional liquidators as final liquidators, subject to security. The appeal was upheld and the high court order was set aside and replaced.
This may be relevant to insolvency and liquidation practitioners, as well as parties involved in company winding-up proceedings.
Evidence from source
the appeal concerns the interpretation and application of s 18(4) of the Insolvency Act, read with s 339 of the Companies Act 61 of 1973.
Supports: Summary sentence 1