MORAITIS INVESTMENTS

MORAITIS INVESTMENTS

27 Pages · 2017 · 132 KB · English

JUDGMENT. Reportable. Case no: 799/2016. In the matter between: MORAITIS INVESTMENTS (PTY) LTD FIRST APPELLANT. APOSTOLOS . various entities falling on their own side of the fence. Master of the High Court (North Gauteng High Court, Pretoria) v Motala NO and Others [2011]. ZASCA 

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THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Reportable Case no: 799 /2016 In the matter between: MORAITIS INVESTMENTS (PTY) LTD FIRST APPELLANT APOSTOLOS MORAITIS NO (as trustee of the Moraitis Trust) SECOND APPELLANT ANTHANASIOS MORAITIS NO (as trustee of the Moraitis Trust) THIRD APPELLANT CHRISTOS MORAITIS NO (as trustee of the Moraitis Trust) FOURTH APPELLANT APOSTOLOS MORAITIS FIFTH APPELLANT and MONTIC DAIRY (PTY) LTD FIRST RESPONDENT MONTIC TRANSPORT (PTY) LTD SECOND RESPONDENT EMONTIC INVESTMENTS (PTY) LTD THIRD RESPONDENT MONTIC ASSETS (PTY) LTD FOURTH RESPONDENT HUNTERS PROPERTIES (PTY) LTD FIFTH RESPONDENT TROPICA FOODS (PTY) LTD SIXTH RESPONDENT TR OPICA INVESTMENTS (PTY) LTD SEVENTH RESPONDENT KARL KEBERT NO (as trustee of the Karl Kebert Trust) EIGHTH RESPONDENT MICHAEL SEGAL NO 2 (as trustee of the Karl Kebert Trust) NINTH RESPONDENT SOLLY GROSS NO (as trustee of the Karl Kebert Trust) TENTH RESPONDENT APOSTOLOS MORAITIS NO (as trustee of the Karl Kebert Trust) ELEVENTH RESPONDENT KARL KEBERT NO (as executor of the late Julie Lam er) TWELFTH RESPONDENT KARL KEBERT THIRTEENTH RESPONDENT THE SHERIFF, JOHANNESBURG FOURTEENTH RESPONDENT Neutral citation: Moraitis Investments (Pty) Ltd v Montic Dairy (Pty) Ltd (799/2016) [2017] ZASCA 54 (18 May 2017) Coram: LEACH, TSHIQI, WALLIS and SALDULKER JJA and FOURIE AJA Heard : 8 May 201 7 Delivered : 18 May 2017 Summary: Settlement agreement – order of court – grounds for rescinding order – lack of authority to conclude settlement agreement – failure to prove lack of authority – ss 75, 112 and 115 of the Companies Act 71 of 2008 – principle of unanimous assent 3 ORDER On appe al from: Gauteng Division, Johannesburg of the High Court (Matojane J, Hawyes AJ concurring, Moshidi J dissenting): The appeal is dismissed with costs JUDGMENT Wallis JA ( Leach, Tshiqi and Saldulker JJA and Fourie AJA concurring) [1] An agreement of sett lement, especially one made an order of court , is usually a sign that the hostiliti es between the litigants have ended In this case it led to a new front being opened in the conflict between the parties The fresh bone of contention was the authority to c onclude the settlement agreement T he appellants contended that the fifth appellant, Mr Apostolos Moraitis (Mr Moraitis), was not authorised to conclude the settlement agreement by either the first appellant, Moraitis Investments (Pty) Ltd

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