- The case of Enyuka Prop Holdings (Pty) Ltd v United Merchants CC and Others 2025 JDR 2947 (GJ) untangles a web of what the court described as “collusive dealings” between two related close corporations, United Merchants CC (United) and Truval Manufacturers CC (Truval).
- This judgment is important because it shows that the courts are prepared to “untangle the web” to ensure a lawful result for creditors.
- It also highlights the importance of complying with compulsory requirements mandated by legislation when passing a special resolution for voluntary winding up.
Compulsory winding up
Enyuka leased several properties to United. By June 2021 United had accrued arrears of over R1,2 million in rent…