In a recent legal development, the High Court of South Africa, KwaZulu Natal Local Division, Durban, delivered a judgment regarding an urgent application filed against Tongaat Hulett Limited (THL). The application, lodged by Mohini Singari Naidoo T/A Powertrans Sales & Services (“Powertrans”), sought relief against THL, the Business Rescue Practitioners (BRPs), and the Vision Parties. Additionally, RGS Group Holdings Limited (“RGS”) sought to intervene in the matter.
The urgent application, launched late on 26 January 2024 under case number D1103/2024, prompted THL to issue a notice to affected persons in accordance with the Companies Act 71 of 2008. The notice, dated 6 February 2024, informed shareholders about the legal proceedings and directed them to THL’s website for further details.
On 1 February 2024, a day before the scheduled hearing, RGS applied for leave to intervene in support of Powertrans’s application. However, Judge Mathenjwa found both Powertrans’s and RGS’s applications lacked urgency. As a result:
The ruling by Judge Mathenjwa signifies a setback for Powertrans and RGS in their attempts to pursue legal action against THL. This decision reinforces the importance of demonstrating urgency when bringing matters before the court.
Affected persons, including shareholders, are reminded to stay updated on the business rescue proceedings of THL by accessing the relevant information on the company’s website. PSG Capital, identified as the sponsor, continues to play a pivotal role in facilitating communication between THL and its stakeholders.
The recent ruling by the High Court serves as a significant development in the ongoing legal proceedings involving THL, highlighting the importance of adherence to legal procedures and demonstrating urgency in court applications.
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