Initiating compulsory sequestration: What must a creditor prove?
The Insolvency Act 24 of 1936 (“the Act“) provides a legal mechanism for the sequestration of a debtor’s estate where the debtor is unable to satisfy their financial obligations. Sequestration may be effected voluntarily by the debtor or compulsorily at the instance of a creditor. This article focuses specifically on the legal requirements that a […]
The effective nature of the provisional sentence procedure in South Africa and its benefit to debt collection
In South Africa, debt collection can often be a lengthy, complex, and costly process. For Creditors seeking to recover outstanding debts, the legal system offers various tools, one of which is the provisional sentence procedure. This mechanism is a unique and highly effective tool used in South African procedural law, offering Creditors a faster route […]