Historic delinquent director declaration for Skyport
Skyport's Owen Wienand becomes the first ever director to be declared delinquent under the Companies Act
The Companies and Intellectual Property Commission (CIPC) has succeeded for the first time in getting a court order declaring a director delinquent under the Companies Act. High Court in Cape Town Judge Dennis Davis declared Owen Wienand, a director of Skyport Corporation, which is in liquidation, a delinquent director for seven years on the grounds of his "gross negligence" and flagrant violation of his duties as a director. The CIPC had asked the court to declare Wienand a delinquent director in perpetuity, but the judge turned this down. Skyport, which was established in 2007, sold shares to the public on the basis that it would establish a new international airport near Malmesbury in the Western Cape. This was despite the fact that the Civil Aviation Authority had rejected its application for a licence. It purchased land for R140m for this purpose and told the CIPC that it would list on the JSE In the first phase, 20-million shares were made available to the public at a startup ...
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