NB: The portal for submission will open 29
August, and the due date is 9 September.
Comprehensive and complete
reliable answers with clear explanation
Plagiarism free Pass /distinction
guaranteed All questions answered
Insolvency
Law
MRL3701
Due date 09/09/2025
Semester 2 2025 assignemt 1
, NB: The portal for submission will open 29 August, and the due date is 9
September.
✓ Comprehensive and complete reliable answers with clear explanation
✓ Plagiarism free
✓ Pass /distinction guaranteed
✓ All questions answered
QUESTION: Bongani is experiencing financial difficulty. He has failed to pay his
debts over the past few months, and his liabilities have exceeded his assets
since 28 October 2024. Bongani owes a total of R2 500 000 to his creditors,
including Flora to whom he owes R280 000. Although this debt was due and
payable to Flora on 8 January 2024, Bongani failed to pay the debt. Frustrated
by not having been paid back, Flora undertook an investigation into Bongani’s
financial situation. She has established that Bongani owns a flat valued at R1
250 000 and a motor vehicle valued at R200,000. Flora is planning to apply for
the sequestration of Bongani’s estate. Assume that the court grants an order
for the sequestration of Bongani’s estate. Discuss the effect that such an order
would have on Bongani. (10 marks)
TOTAL FOR ASSIGNMENT 02: [10]
1. Loss of Control Over Assets
Bongani loses control over his estate. All his assets (both movable and immovable)
are placed under the control of a trustee appointed by the Master of the High
Court. The trustee manages and liquidates these assets to pay creditors.
August, and the due date is 9 September.
Comprehensive and complete
reliable answers with clear explanation
Plagiarism free Pass /distinction
guaranteed All questions answered
Insolvency
Law
MRL3701
Due date 09/09/2025
Semester 2 2025 assignemt 1
, NB: The portal for submission will open 29 August, and the due date is 9
September.
✓ Comprehensive and complete reliable answers with clear explanation
✓ Plagiarism free
✓ Pass /distinction guaranteed
✓ All questions answered
QUESTION: Bongani is experiencing financial difficulty. He has failed to pay his
debts over the past few months, and his liabilities have exceeded his assets
since 28 October 2024. Bongani owes a total of R2 500 000 to his creditors,
including Flora to whom he owes R280 000. Although this debt was due and
payable to Flora on 8 January 2024, Bongani failed to pay the debt. Frustrated
by not having been paid back, Flora undertook an investigation into Bongani’s
financial situation. She has established that Bongani owns a flat valued at R1
250 000 and a motor vehicle valued at R200,000. Flora is planning to apply for
the sequestration of Bongani’s estate. Assume that the court grants an order
for the sequestration of Bongani’s estate. Discuss the effect that such an order
would have on Bongani. (10 marks)
TOTAL FOR ASSIGNMENT 02: [10]
1. Loss of Control Over Assets
Bongani loses control over his estate. All his assets (both movable and immovable)
are placed under the control of a trustee appointed by the Master of the High
Court. The trustee manages and liquidates these assets to pay creditors.
