Mrl3701 Study Unit 3 Voluntary Surrender Exam Study Guide

MRL3701 STUDY UNIT 3 VOLUNTARY SURRENDER EXAM STUDY GUIDE NOTICE OF INTENTION TO SURRENDER - Answer️️ -1. Publish notice of surrender in Government Gazette and newspaper circulating in the magisterial district where debtor resides FORM A REQUIREMENTS - Answer️️ -1. full names, address and occupation of debtor 2. date upon which, and the particular Division of the High Court before which, the application for acceptance of the surrender will be made; 3. when and where the debtor's statement of affairs will lie for inspection as required by the Act. PUBLICATION IN GAZETTE AND NEWSPAPER - Answer️️ -Not more than 30 days and not less than 14 days before the date stated in the notice as the date for the hearing of the application. PURPOSE OF NOTICE OF SURRENDER - Answer️️ -Alert creditors as to intended application in case they want to oppose. EX PARTE GOLDMAN - Answer️️ -It was held that a weekly journal devoted to Jewish interest and printed monthly in Yiddish, using Hebrew characters was not a newspaper for the purposes of the statute. ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM Page | 2 EX PARTE BARTON - Answer️️ -Notice had been published in Western Cape newspaper but applicant had previously lived in Durban and all his creditors were in natal. PUBLICATION OF NOTICE OF SURRENDER - Answer️️ -May be proved by means of an affidavit enclosing copies of the relevant Gazette and newspaper (or cutting from the newspaper) - EX PARTE WILSON or in some other appropriate manner. NOTICE TO CREDITORS AND OTHER PARTIES - Answer️️ -Within 7 days after publication of the notice to surrender the debtor must furnish copies of the notice to creditors and other parties. NOTICE TO EACH CREDITOR - Answer️️ -Debtor must deliver or post a copy of the notice to every one of his creditors whose address he knows or can ascertain. EX PARTE WASSENAAR - Answer️️ -Was observed that in requiring that creditors be given personal notice of the intended application - legislature was allowing for the fact that it cant be expect of creditors continually to peruse the Government Gazette or the legal notices in newspapers. EX PARTE RUDOLPH - Answer️️ -Failure to give notice to creditors in the prescribed manner will generally be regarded as fatal to the application. EX PARTE HETZLER - Answer️️ -Courts may in certain circumstances be prepared to condone non-compliance with the time period in which posting four days before publication was not considered to be a fatal defect. ©SOPHIABENNETT EXAM SOLUTIONS_2024/2025 Tuesday, September 3, 2024 10:30 AM Page | 3 NOTICE TO TRADE UNION AND EMPLOYEES - Answer️️ -Debtor must post a copy of the notice to every registered trade union that, to his knowledge, represents his employees. Debtor must give notice to the employees themselves: 1. by affixing copy of the notice to any notice board to which the employees have access inside debtors premises; or 2. if the employees do not have access to these premises, by affixing a copy of the notice to the front gate of the premises or; 3. failing the latter, by affixing a copy of the notice to the front door of the premises from which the debtor conducted any business immediately prior to the surrender. NOTICE TO SARS - Answer️️ -Debtor is required to send a copy of the notice by post to the South African Revenue Services ( s(4)(2)(b)(iii) PREPARATION OF STATEMENT - Answer️️ -IN ACCORDANCE WITH FORM B IN THE FIRST SCHEDULE COMPRISES: a. a balance sheet; b. a list of immovable assets, with estimated value of each asset and details of any mortgages on the assets - Annexure I c. list of any movable property not included in Annexures III or V - setting out va