Equitable winding up Study guides, Revision notes & Summaries

MRL3701-Insolvency Law SUMMARY NOTES WITH QUESTIONS. 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 o...

MRL3701 SUMMARY STUDY NOTES WITH QUESTIONS. This is a complete and an all-inclusive guide to MRL3701 - Insolvency Law 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 sat...

This document is a complete and an all-inclusive guide to MRL2601 - Entrepreneurial Law MRL2601 SUMMARY NOTES Principle – Company is a separate legal entity Forms of enterprises – 1. Sole proprietorship – capital on one person invested 2. partnership – 2 or more pool capital and abilities 3. CC – legal personality 4. Company – Legal personality 5. business trust The registration of a company or CC allows the body with separate legal personality with its own rights and li...

MRL3701 STUDY SUMMARY NOTES WITH QUESTIONS. This is an all-inclusive and a complete guide to MRL3701 - Insolvency Law 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 va...

MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES.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 assets ...

Contents PART 1 Introduction 1. Introduction PART 2 Obtaining a sequestration order 2. Voluntary surrender 3. Compulsory sequestration PART 3 Effects of sequestration 4. The legal position of the insolvent 5. Vesting of the assests of the insolvent 6. Vesting of the assets of the solvent spouse 7. Uncompleted contracts and legal proceedings not yet finalized PART 4 Collection of the estate assets trustee’s 8. Meetings of creditors and proof claims 9. The election of the trus...

Exam (elaborations) MRL 3701 INSOLVENCY LAW EXAM PACK ANSWERS (2019 -2014) AND 2020 BRIEF NOTES 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 inte...

Section 1 Questions 1. What is the definition of a “debtor” in terms of the Insolvency Act 24 of 1936? (4) A debtor means a person or a partnership or the estate of a person or a partnership which is a debtor in the usual sense of the word, except a body corporate or a company or other association of persons which may be placed in liquidation under the law relating to companies. 2. What is the purpose of a notice of surrender? (2) The purpose of the notice of surrender is to alert credi...

CORPORATE LAW EXAM STUDY GUIDE – MLL221 NOTE!!!  TOPICS 1-7 ARE NOT EXAMINABLE! Power to legislate given to the Commonwealth Parliament under s51(xx) of Australian Constitution (power not given to states) Topic 1/2 – Regulatory Framework + Registration Quest for Cth Control Corporations Act 1989 (Cth) Cth legislated independently of the States to introduce a national scheme NSW v Cth (1990) • Does s.51(xx) of the Constitution grant the Commonwealth the power to make laws in r...

A complete summary of all chapter handouts, lecture recordings and SGSs consolidated into clear and concise notes with worked examples. Contains everything you need to know for the shareholders sections of the BPP BLP exam including: Shareholders Agreements, Remedies for Minority Shareholders and Returning Value to Shareholders.