I was wondering whether anybody would be prepared to express an opinion on the following circumstances:
The way I understand the current position is that after the deregistration of the Company, its assets become bona vacantia and vest in the State. The Conveyancer on behalf of the Curator cannot apply to CIPC for the reinstatement of the Company because the requirements cannot be met.
Another option would be to apply for an Order in terms of Section 83 of the new Companies Act to have the Company reinstated but that is a time consuming and costly exercise.
On the other hand, Section 36 of POCA deals with THE EFFECT OF WINDING-UP OF COMPANIES OR OTHER JURISTIC PERSONS OR REALISABLE PROPERTY.
My question is whether the Conveyancer may proceed with the transfer of the property by the Curator to the purchaser without taking any further steps to have the company reinstated.