A case which involved a business transaction in which TN Asset Management, our client, bought shares in a listed company for value from a seller who had received the shares in the form of pledged security for a loan. The initial owners of the shares, the Applicants in the matter above, sought a declaratur that the sale of the shares to our client “constituted unlawful parate executie”, that the securities transfer form executed by the forth applicant in respect of shares held by it was invalid by reason that the certificate was defective and that ownership of the shares did not lawfully pass to the second respondent.
The applicants also sought the return of the shares to them among other relief. In dismissing the application and finding in favour of our client, the court confirmed that the doctrine of parate executie is part of our law and that a person who takes transfer of pledged instruments in good faith and for value receives title to those rights free from any defences. The case was a classic in its restatement of our law of securities as derived from our common law.
In the field of Individual and Collective Employment Law, our team has defended employers in disputes with employees and organisations which represent them with a proven track record of excellence. For example, after the aftermath of the Labour Amendment Act, 2015, many employers have been compelled to settle bills for claims for damages in the millions, yet all the clients we represent have successfully resisted the claims.