FILL IN MISSING WORDS
1. QUESTION
As a general rule, costs occasioned by an unsuccessful opposition to an
application of voluntary surrender must be borne by the creditor(s)
concerned.
2. QUESTION
In Epstein v Epstein 1987 (4) SA 606 (C) 611, the courts have accepted
that they must scrutinize every friendly sequestration with particular care
to ensure that the requirements of the Insolvency Act 24 of 1936 are not
subverted.
3. QUESTION
The Master determines the date and time of the first meeting of creditors.
4. QUESTION
A secured creditor is one who holds security for his claim in the form of a
special mortgage, landlord’s legal hypothec, pledge or right of retention.
5. QUESTION
Rehabilitation has the effect of putting an end to the sequestration.
6. QUESTION
The ‘cost of the sequestration’ do not only include the costs of surrender
but also all the general costs of “administration”.
,7. QUESTION
In Amod v Kahn 1947 (2) SA 4321 (N), the court exercised its discretion
where a creditor’s real motive was to prevent the debtor from enforcing a
claim against his son.
8. QUESTION
A donation between spouses, although formerly invalid, is now permitted
in terms of section 22 of the Matrimonial Property Act 88 of 1984.
9. QUESTION
A collusive disposition prejudices creditors or prefers one creditor.
10. QUESTION
Three types of creditors are identified for raking purposes: concurrent,
secured and preferent.
11. QUESTION
The first step to be taken by a debtor who wishes to surrender his estate
is the publishing of a notice to surrender in the government gazette and in
a newspaper circulating in the magisterial district where he resides.
12. QUESTION
The trustee is obliged to release property which was acquired by the
solvent spouse during her marriage with the insolvent by a valid title
against creditors of the insolvent.
,13. QUESTION
In Pretorius’s Trustee v Van Blommenstein 1949 (1) SA 267 (O) the court
found that a close friendship or family relationship may motivate the
insolvent to give a preference and therefore an intention to prefer is a
factor to be taken into account.
14. QUESTION
In terms of s 89(2) of the Insolvency Act 24 of 1936, a secured creditor
may, when proving his claim, choose to rely exclusively on his security.
15. QUESTION
The benefits protected by section 27 of the Insolvency Act 24 of 1936 are
discriminatory and may fail constitutional scrutiny for it states that the
benefits are restricted to married female beneficiaries.
16. QUESTION
Within seven days after publication of the notice of surrender, the debtor
must furnish copies of the notice to creditors and other parties.
17. QUESTION
The trustee is obliged to release property of the solvent spouse that was
the solvent spouse’s property immediately before her marriage to the
insolvent.
18. QUESTION
In Rand Air (Pty) Ltd v Ray Bester Investments (Pty) Ltd 1985 (2) SA 345
(W) the court held that it is just and equitable to wind up a company where
, the main objective for which the company was formed is not possible of
being attained.
19. QUESTION
On being served with the final order of sequestration, the insolvent is
obliged to deliver forthwith to the Sheriff all records relating to his affairs
which have not already been taken into custody.
20. QUESTION
An important approach to considering the law through the lens of the
Constitution is “Constitutionalism”.
21. QUESTION
A sequestration order is a formal declaration that a debtor is insolvent.
22. QUESTION
The insolvents right to earn and recover income relates only to lawful
income.
23. QUESTION
Section 21 was introduced to prevent, or at least hamper, collusion
between spouses to the detriment of creditors of the insolvent estate.
24. QUESTION
The object of s 26 is simply to prevent a person in insolvent circumstances
from impoverishing his estate by giving away assets without receiving any
appreciable advantage in return.
1. QUESTION
As a general rule, costs occasioned by an unsuccessful opposition to an
application of voluntary surrender must be borne by the creditor(s)
concerned.
2. QUESTION
In Epstein v Epstein 1987 (4) SA 606 (C) 611, the courts have accepted
that they must scrutinize every friendly sequestration with particular care
to ensure that the requirements of the Insolvency Act 24 of 1936 are not
subverted.
3. QUESTION
The Master determines the date and time of the first meeting of creditors.
4. QUESTION
A secured creditor is one who holds security for his claim in the form of a
special mortgage, landlord’s legal hypothec, pledge or right of retention.
5. QUESTION
Rehabilitation has the effect of putting an end to the sequestration.
6. QUESTION
The ‘cost of the sequestration’ do not only include the costs of surrender
but also all the general costs of “administration”.
,7. QUESTION
In Amod v Kahn 1947 (2) SA 4321 (N), the court exercised its discretion
where a creditor’s real motive was to prevent the debtor from enforcing a
claim against his son.
8. QUESTION
A donation between spouses, although formerly invalid, is now permitted
in terms of section 22 of the Matrimonial Property Act 88 of 1984.
9. QUESTION
A collusive disposition prejudices creditors or prefers one creditor.
10. QUESTION
Three types of creditors are identified for raking purposes: concurrent,
secured and preferent.
11. QUESTION
The first step to be taken by a debtor who wishes to surrender his estate
is the publishing of a notice to surrender in the government gazette and in
a newspaper circulating in the magisterial district where he resides.
12. QUESTION
The trustee is obliged to release property which was acquired by the
solvent spouse during her marriage with the insolvent by a valid title
against creditors of the insolvent.
,13. QUESTION
In Pretorius’s Trustee v Van Blommenstein 1949 (1) SA 267 (O) the court
found that a close friendship or family relationship may motivate the
insolvent to give a preference and therefore an intention to prefer is a
factor to be taken into account.
14. QUESTION
In terms of s 89(2) of the Insolvency Act 24 of 1936, a secured creditor
may, when proving his claim, choose to rely exclusively on his security.
15. QUESTION
The benefits protected by section 27 of the Insolvency Act 24 of 1936 are
discriminatory and may fail constitutional scrutiny for it states that the
benefits are restricted to married female beneficiaries.
16. QUESTION
Within seven days after publication of the notice of surrender, the debtor
must furnish copies of the notice to creditors and other parties.
17. QUESTION
The trustee is obliged to release property of the solvent spouse that was
the solvent spouse’s property immediately before her marriage to the
insolvent.
18. QUESTION
In Rand Air (Pty) Ltd v Ray Bester Investments (Pty) Ltd 1985 (2) SA 345
(W) the court held that it is just and equitable to wind up a company where
, the main objective for which the company was formed is not possible of
being attained.
19. QUESTION
On being served with the final order of sequestration, the insolvent is
obliged to deliver forthwith to the Sheriff all records relating to his affairs
which have not already been taken into custody.
20. QUESTION
An important approach to considering the law through the lens of the
Constitution is “Constitutionalism”.
21. QUESTION
A sequestration order is a formal declaration that a debtor is insolvent.
22. QUESTION
The insolvents right to earn and recover income relates only to lawful
income.
23. QUESTION
Section 21 was introduced to prevent, or at least hamper, collusion
between spouses to the detriment of creditors of the insolvent estate.
24. QUESTION
The object of s 26 is simply to prevent a person in insolvent circumstances
from impoverishing his estate by giving away assets without receiving any
appreciable advantage in return.
