Equitable winding up Study guides, Revision notes & Summaries
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MRL3701 - STUDY UNIT 22 - WINDING UP COMPANIES
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WINDING UP MEANS Correct Answers essentially the procedure by which a company's assets are sold, its debts are paid, and any money left over is divided amongst the shareholders according to their rights. 
 
WINDING UP OF COMPANIES IS REGULATED BY THE FOLLOWING LEGISLATIVE PROVISIONS Correct Answers 1. Section 79 - 81 of the Companies Act 71. Winding up of solvent companies 
 
2. Chapter 14 of the Companies Act. 
 
3. Various provision of the Insolvency Act. 
 
MODES OF WINDING UP AND ALTERNATIV...
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MRL3701 Assignment 2 Due 13 April 2024
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MRL3701 Assignment 2 Due 13 April 2024 
WINDING UP MEANS - ans -essentially the procedure by which a company's assets 
are sold, its debts are paid, and any money left over is divided amongst the 
shareholders according to their rights. 
WINDING UP OF COMPANIES IS REGULATED BY THE FOLLOWING LEGISLATIVE 
PROVISIONS - ans -1. Section 79 - 81 of the Companies Act 71. Winding up of solvent 
companies 
2. Chapter 14 of the Companies Act. 
3. Various provision of the Insolvency Act. 
MODES OF WIN...
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Exam (elaborations) MRL 3701 INSOLVENCY LAW EXAM PACK ANSWERS (2019 -2014) AND 2020 BRIEF NOTES
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MRL 3701 INSOLVENCY LAW EXAM PACK ANSWERS (2019 -2014) AND 2020 BRIEF NOTES 
MRL 3701 
OCTOBER/NOVEMBER 2018 
QUESTION 1 
a) Inability to pay debts is, at most merely evidence of insolvency. (page 3) 
b) Brenda’s application for voluntary surrender must be set out the causes of her 
insolvency in some detail to enable the court to determine whether the 
application is ......................... 
c) Christopher commits an act of insolvency by departing from his dwelling with the 
intent by doin...
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WGU D216 2022 With Complete Solutions.
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Constitutional Law 
Law as expressed in the U.S. Constitution or state constitutions. 
The U.S. Constitution is the supreme law of the land. 
State constitutions are supreme within state borders to the extent that they do not conflict with the U.S. Constitution. 
 
 
 
Statutory Law 
Statutes (including uniform laws) and ordinances enacted by federal, state, and local legislatures. 
Federal statutes may not violate the U.S. Constitution. 
State statutes and local ordinances may not violate the U...
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MRL3701 2023 with complete solutions questions and answers
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person's 
The terms sequestration and sequestration order should stritly be used only with reference to a ____ estate 
 
 
 
personal 
In Ex Parte Henning, the statement of affairs that lay for inspection did not contain the ____ information 
 
 
 
8(g) 
According to section ____ of the Insolvency Act, it is an act of insolvency if a debtor gives notice in writing to a creditor that he is unable to pay one or more of his debts 
 
 
 
written 
A debtor may not, without the ____ consent of the tr...
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MRL3701 Insolvency Law SUMMARY NOTES WITH QUESTIONS.
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MRL3701 Insolvency Law SUMMARY NOTES WITH QUESTIONS. Meaning of “insolvency” 
Common meaning – a person is insolvent when he is unable to pay his debts, however, 
The legal test for insolvency is whether the debtor's liabilities, fairly estimated, exceed his 
assets, fairly valued. The inability to pay debts Is merely evidence of insolvency. 
A person who has insufficient assets to discharge his liabilities (although he satisfy the test 
for insolvency) is not treated as insolvent for le...
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INSOLVENCY_LAW_MRL_3701
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Study unit 1: Introduction to Insolvency Law 
 
Case Law: 
NB: Magnum Financial Holdings (Pty) Ltd (in Liquidation) v Summerly and another NNO 1984 (1) SA 160 (W) 
 
Meaning of “insolvency” 
 
Common meaning – a person is insolvent when he is unable to pay his debts, however, 
 
The legal test for insolvency is whether the debtor's liabilities, fairly estimated, exceed his assets, fairly valued. The inability to pay debts Is merely evidence of insolvency. 
 
A person who has insufficient ...
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2022 SUPPLEMENTARY EXAM REFERENCED - Insolvency Law (MRL3701)
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Question 1 1.1 Discuss Epstein v Epstein 1987 (4) SA 606 (C). (10) 1.2 Martin approaches you for advice. He informs you that his brother, Eric, owes him R24,000 for pool cleaning services rendered by his company. Martin explains to you that despite various attempts to get Eric to pay his debts, he has yet to make any payment. Martin is especially upset because he has heard a rumour that Eric owes money to several people, amongst them a mutual best friend, Kenneth. Kenneth informed Martin that Er...
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mrl2601 2023 with complete solution questions and answers
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Who may bring a statutory derivative action ito S165 CA 
a shareholder 
a director 
a registered trade union representing an employee or a person/body representing employees 
anyone who is granted leave by the court to do so 
prescribed officers 
 
 
 
Grounds for the application of statutory derivative action 
-cpy failed to take steps required 
-cpy appointed a person/committee who is not independent. 
-cpy accepted an inadequate report 
-cpy served a refusal notice 
 
 
 
 
Duties of the audi...
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2022 SUPPLEMENTARY EXAM REFERENCED - Insolvency Law (MRL3701)
- Exam (elaborations) • 10 pages • 2022
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Question 1 1.1 Discuss Epstein v Epstein 1987 (4) SA 606 (C). (10) 1.2 Martin approaches you for advice. He informs you that his brother, Eric, owes him R24,000 for pool cleaning services rendered by his company. Martin explains to you that despite various attempts to get Eric to pay his debts, he has yet to make any payment. Martin is especially upset because he has heard a rumour that Eric owes money to several people, amongst them a mutual best friend, Kenneth. Kenneth informed Martin that Er...
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