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Thread: Pty Ltd can I attach

  1. #1
    Junior Member
    Join Date
    Nov 2015
    cape town
    Thanked 1 Time in 1 Post

    Pty Ltd can I attach

    Hello TFSA Members

    During 2016, I took my ski boat to a boat company to have serviced. The company "X" (a PTY LTD company), caused substantial damage to the engine and I removed my boat and had it repaired at another company.

    I instituted proceedings against company "X" in the magistrates court and an order in my favour for the costs of the boat repair was awarded.

    After the order was made, company "X" closed their doors and disappeared but never deregister the PTY LTD company. For two years now I have been looking for the director and managed to trace his home address.

    Questions I have are:

    1. There was only one sole director who was also the sole share holder of the PTY LTD company which never opened doors again and since I now have his rented home address can I have the sheriff attach goods and his vehicle at his home address?

    2. I have established that he is married in community of property so can I also have his wife's vehicle attached?

    3. Do I need to apply for a warrant of execution/attachment in the PTY LTD name or directly in the director?

    Apologies if these seem like dumb questions but not sure what my rights are since the court order was granted against the PTY LTD company and not the person I his personal name.

    Many thanks in advance.

    Sent from my SM-G955F using Tapatalk

  2. #2
    Gold Member
    Join Date
    Jun 2010
    Thanked 177 Times in 146 Posts
    Disclaimer: Non-legal advice

    You have an award against X Pty Ltd, so you will most likely be able to follow a legal process to attach any assets that belong to X Pty Ltd. I suspect however that there are none.

    Simply by having an award against X Pty Ltd does not mean that you have an award against the Directors or Shareholders of that company. That is the primary reason for having companies - so that your private assets are not at risk in the event of business failure. In order to be able to attack the private assets of the director or shareholder you will have to show the courts that he traded recklessly and is therefore personally liable. This may be quite a challenge to do I'm afraid.

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