Shareholder Oppression as Corporate Conduct Repugnant to Public Policy: Infusing the Concept of Ubuntu in the Interpretation of Section 163 of the Companies Act 71 of 2008

Authors

DOI:

https://doi.org/10.17159/1727-3781/2021/v24i0a10731

Keywords:

Corporate governance, shareholder oppression, oppression remedy, ubuntu, contract, public policy, constitutionalism

Abstract

The concept of ubuntu continues to exert considerable influence on the development and the general application of post-independence jurisprudence in South Africa. While ubuntu undoubtedly permeates the interpretation of a plethora of contemporary legal disciplines in South Africa, this article contends that the reception of the concept in corporate law remains constrained. Identifying shareholder relationships as an important feature of the corporate firm, the author presents a persuasive case for the infusion of ubuntu and its underlying equity considerations in the interpretation of the oppression remedy which is currently provided under section 163 of the Companies Act 71 of 2008. The article discusses the remedy from different legal perspectives which find synchrony in the concept of ubuntu. The contribution adds to emerging legal scholarship advocating the alignment of South African corporate law with constitutional principles.

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References

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Published

2021-10-26

How to Cite

Sibanda, A. (2021). Shareholder Oppression as Corporate Conduct Repugnant to Public Policy: Infusing the Concept of Ubuntu in the Interpretation of Section 163 of the Companies Act 71 of 2008. Potchefstroom Electronic Law Journal, 24, 1–36. https://doi.org/10.17159/1727-3781/2021/v24i0a10731

Issue

Section

Special Edition: Corporate and Financial Markets 2021