Group Five: Shareholders take Group Five BRPs to court

A group of 48 shareholders of embattled construction company Group Five have instituted legal proceedings against the company and its business rescue practitioners (BRPs). In terms of the application, the shareholders seek, among others, to set aside the resolution adopted by the shareholders at an annual general meeting (AGM) in November 2017 during which the company was authorised to provide direct or indirect financial assistance to one or more related, or inter-related, companies.