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Kensal Rise Investments (Pty) Limited v Marchant (1523/2013) [2014] ZAKZDHC 47

Kensal Rise Investments (Pty) Limited v Marchant (1523/2013) [2014] ZAKZDHC 47

5th November 2014

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  • Kensal Rise Investments (Pty) Limited v Marchant (1523/2013) [2014] ZAKZDHC 47
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[1] The principal claim in this matter is one by the plaintiff, Kensal Rise Investments (Pty) Limited, for payment of a sum of Aus $850,000.  The plaintiff makes the claim against the defendant, Mr Marcus William Marchant, who was at all material times a director of the plaintiff, upon the basis that the defendant breached a fiduciary duty he owed to the plaintiff in connection with a contract for the sale to the plaintiff by the defendant of his equity interest in four companies and a close corporation, together with some of his loan claims against two of the companies.  The plaintiff claims repayment of the price paid alleging that the contract is voidable at its instance by reason of the defendant’s breach of his fiduciary duties.

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