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.