South Africa: South Gauteng High Court, Johannesburg

You are here: SAFLII >> Databases >> South Africa: South Gauteng High Court, Johannesburg >> 2024 >> [2024] ZAGPJHC 72

| Noteup | LawCite

Lyconet Austria Gmbh v Weighelhofor and Others (2023/082122) [2024] ZAGPJHC 72 (31 January 2024)

Download original files

PDF format

IN THE HIGH COURT OF SOUTH AFRICA

GAUTENG DIVISION, JOHANNESBURG

CASE NO: 2023-082122

1. Reportable: No

2.Of interest to other judges: No

3. Revised

31 January 2024

In the matter between:

LYCONET AUSTRIA GmBH Intervening Applicant

And

ALBERT WEIGHELHOFER First Respondent

WAYNE KRAMBECK Second Respondent

ONICAFLEX (PTY) LTD Third Respondent

RALPH FARREL LUTCHMAN N.O Fourth Respondent

LINDIWE FLORENCE KAAB N.O Fifth Respondent

LYCONET SOUTH AFRICA (PTY) LTD Sixth Respondent

(in liquidation)

MASTER OF THE HIGH COURT – JOHANNESBURG Seventh Respondent

In re:

ALBERT WEIGLHOFER First Applicant

WAYNE KRAMBECK Second Applicant

ONICAFLEX (PTY) LTD Third Applicant

and

LYCONET SOUTH AFRICA (PTY) LTD Respondent

JUDGMENT

WRIGHT J

The applicants in the main application sought the final winding up of the respondent, Lyconet South Africa. On 12 September, 2023 such an order was granted. On 20 October, 2023 the order was rescinded and Lyconet was placed in provisional winding up with a return day of 29 January, 2024.
Before me now is the question of what is to happen on the return day.
The matter is not ready to proceed as various documents like heads of argument are not on file.
In the meantime, Lyconet Austria, the holding company of Lyconet South Africa, seeks to intervene as a party, or has been admitted as a party. It is not necessary to go further into this question.
The original applicants for winding up now seek a postponement with extension of the provisional winding up. The grounds relied on include the unreadiness of the matter for hearing and the need for the provisional liquidators to look into the matter. This case concerns allegations that Lyconet South Africa ran a Ponzi scheme. In my view, justice requires extension of the rule.

ORDER