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AI summary
The Western Cape High Court dealt with an application under section 341(2) of the Companies Act 61 of 1973 to recover payments said to have been made by DVS Special Projects (Pty) Ltd after liquidation. The court found the payments were dispositions, but upheld a prescription plea and dismissed the application with costs. The judgment also records a section 20(9) collapse order involving Germani, Expidor, Glomix and DVS.
This appears to concern winding up, prescription and section 20(9) collapse orders in company liquidation disputes.
Evidence from source
Prescription plea upheld, application dismissed with costs
Supports: The court outcome was dismissal based on prescription.