Is all 'hunkydory' for the holder of a mortgage bond securing a major asset of a company without a s 228 resolution?

Authors :

Feinstein, M

Journal Title :

De Rebus

Citation :

(2009) Oct DR 24

S.A. Cases Cited :

Standard Bank of South Africa Ltd v Hunkydory Investments 188 (Proprietary) Limited (WCC) (unreported case no 15427/08, 1-6-09)

Levy v Zalrut Investments (Pty) Ltd 1986 (4) SA 479 (W)

Farren v Sun Service SA Photo Trip Management (Pty) Ltd 2004 (2) SA 146 (C)

Royal British Bank v Turquand (1856) 5 E & B 248 (119 ER 474)

Sugden v Beaconhurst Dairies (Pty) Ltd 1963 (2) SA 174 (E)

S.A. Legislation :

Companies Act 61 of 1973 s. 228

Companies Act 71 of 2008 s. 115

Subject :

Mortgage bonds

Company law - Special resolutions

Company law - Assets

Company law - Directors - Powers

This item appears in the following Collection(s)