SALE VOID WITHOUT SIGNATURE OF ALL THE LIQUIDATORS
Shanmugam v Peter N.O and Others (11638/2015)  ZAKZDHC 16 (20 April 2016)
Where liquidators of a close corporation sell immovable property of the entity, it is necessary that each one signs the agreement or gives permission to another to sign on his behalf, failing which the agreement is rendered void. This is because a liquidator is in the same position as a duly authorised functionary and member of the close corporation and his or her actions are those of the close corporation.
TOUGH TIMES AND HANGING IN THERE
Kratshi v Absa Bank Limited and Others (39859/2015)  ZAGPPHC 221 (15 April 2016)
This judgment offers a valuable lesson to debtors who fall behind with bond repayments in difficult times. What is notable is that the court assisted the debtor, at least temporarily, where she could show that, during the hard times, she regularly maintained instalments on the loan account, although in a lesser amount; kept in contact with the bank; and could provide an alternative mechanism with which to bring the account back up to date.