The Supreme Court of Appeal dealt with a dispute between shareholders of Legacy Hotels and Resorts (Pty) Ltd. It set aside the High Court order and substituted an order directing Ensemble Hotel Holdings (Pty) Ltd to sell its shares to Legacy Hotels, with the price to be determined by an expert valuer and implementation made conditional on ministerial permission or other authorisation under FICA and the relevant UN resolutions.
This appears to concern shareholder deadlock relief, share valuation, and the interaction between company remedies and frozen-assets controls under FICA.
Evidence from source
The implementation of paragraph 2.3 above is subject to and conditional upon the parties obtaining such ministerial permission or other authorisation as may be required under ss 26B and s 26C of the Financial Intelligence Centre Act 38 of 2
Supports: The substituted order makes implementation conditional on ministerial permission or other authorisation under FICA.
This appeal arises from a dispute between the shareholders of the seventh appellant, Legacy Hotels and Resorts (Pty) Limited
Supports: The case is about a shareholder dispute in Legacy Hotels and Resorts (Pty) Ltd.