Insolvency and business rescue
Case study
Alex Eliott acted for the joint liquidators of Serveco (Pty) Ltd (in liquidation) and successfully (on appeal in the Supreme Court of Appeal) defending an interdict brought by Serveco’s majority shareholder. The SCA held that it is unlawful for a company in liquidation to be deregistered, that it was not a prerequisite for the Master in convening an insolvency inquiry to act upon the application of a person or any category of persons, and that the appointment of a business partner of one of the joint liquidators to conduct an insolvency inquiry into the affairs of Serveco was merely a ministerial appointment and not an inadmissible delegation of the joint liquidators' powers. This case is one of the most important insolvency law cases in recent years.
