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AI summary
The High Court in Johannesburg dealt with an application by Thirty Seven60 Investments (Pty) Ltd to wind up Valoris Group (Pty) Ltd. The judgment records that the respondent was placed under provisional liquidation and a rule nisi was issued.
This appears to concern provisional liquidation proceedings and the court’s treatment of disputed indebtedness under the Companies Act.
Evidence from source
This is an application for the winding up of the respondent in terms of the provisions of s 344(f), read with ss 345(1)(a)(i) and 345(1)(c) of the Companies Act
Supports: plain_summary sentence 1
I consequently find that the respondent committed an act of insolvency, and that it is therefore liable to be provisionally wound up.
Supports: plain_summary sentence 2
The Respondent is placed under provisional liquidation in the hands of the Master of the above Honourable Court.
Supports: plain_summary sentence 2