Business rescue proceedings concerning one of the largest coal producers in South Africa employing, hundreds of employees. Legal principles in applications to vary interlocutory injunctions and fortification of cross-undertaking for damages. Test for awarding security for costs and calculating the quantum of security for costs if there is a prospect the security will be enforced by relitigating the dispute in a foreign jurisdiction.
Case outcome
The Supreme Court explained the principles to be applied when granting interlocutory injunctions, fortifying cross-undertakings for damages and security for costs. The Court rejected the application to vary the injunction and seek fortification of the cross-undertaking as to damages and granted security for costs.