Penultimate Moot Final 2018Date Released: Fri, 24 August 2018 14:26 +0200
The internal moot competition for Penultimate Year LLB students took place from 13 to 17 August 2018, with the final taking place on 22 August 2018. The students were required to argue as to whether the sale of an insolvent subsidiary by a parent company to a third party company where the majority of both companies directors and shareholders are identical (and these parties relied on their majority on the board to effect the sale) constitutes a diversion of a corporate opportunity as contemplated in terms of section 76(2)(a) of the Companies Act 71 of 2008 and applicable case law. Ian Matthews, Mfundoluntu Somandi, Jeremy de Beer and Mthokozisi Zungu argued in the final round before a panel consisting of Judge Murray Lowe from the Eastern Cape High Court Division, Ms Sue Smailes, Director of Special Projects at Rhodes University and Ms Jaylynne Hillier from the Legal Aid South Africa. The tough and well-argued final resulted in Mfundoluntu Somandi being announced as the winner with Mthokozisi Zung the runner-up.
Source:Rhodes Law Faculty