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AI summary
The High Court dealt with an opposed application about repayment of R1 million paid as working capital to the first respondent. It granted condonation for the late answering affidavit, ordered repayment, and declared the second respondent personally liable under section 64 of the Close Corporations Act. The third respondent was also held jointly liable for the payment.
This may be relevant to disputes about repayment of funds, close corporation liability, and proceedings involving related company bank accounts.
Evidence from source
the applicant seeks, primarily, an order for the repayment of R1 000 000.00 (One Million Rand) that he paid as an investment or working capital to the first respondent
Supports: Plain summary sentence 1 about the repayment application
Accordingly, condonation is granted.
Supports: Plain summary sentence 2 about condonation