The only difference would be that the client would re responsible for the payment of the Total value of his debt incurred to the value of 20c to the R. Their is also a possibility that we might [...]
The rehabilitation process involves bringing an application to the High Court asking the court to relieve the insolvent of every disability resulting from sequestration. It ends the sequestration [...]
There is a misconception that the mere fact that you are a Director of a company, member of a Close Corporation or Trustee of a trust makes you liable for the debt of that entity. You will only [...]
Should you have leased property at the time of your sequestration, the lease agreement is not automatically cancelled by your sequestration. You will simply carry on paying your rent and you stay [...]
You are allowed to enter into any contract which does not pertain to the assets that fall into your insolvent estate. You are for example allowed to enter into a cell phone contract, rental [...]
This is governed by Section 38 of the Insolvency Act. Sequestration suspends the contracts of service between you and your employees. There are two options that are available to you. You can [...]
There are certain positions which you are excluded from holding once you have been declared insolvent. You are for example unable to be a Director of a company, the Managing Member of a Close [...]
Where the vehicle has been bought on HP, the creditors are not allowed to execute any legal proceedings against you once the adverts have been placed in the Government Gazette and the local [...]