MRL3701 ASSIGNMENT 01 SEMESTER- 25 MARCH 2025
Questions
Thabo owes an amount of R2 567 374.00 to his creditors. Since Thabo’s retrenchment
by his long-standing employer in March 2024, Thabo has been experiencing ongoing
financial difficulty. He has failed to pay his debts over the past few months, and since
30 November 2024 his liabilities have exceeded his assets. Maria is one of Thabo’s
creditors, who is owed an amount of R320 000 by Thabo. Thabo’s debt to Maria was
due and payable on 5 January 2025, but Thabo failed to pay the debt. Disappointed at
this, Maria undertook an investigation into Thabo’s financial affairs. She has
established that Thabo owns an apartment valued at R2 250 000 and furniture valued
at R300,000. She has also discovered that Thabo had owed his cousin an amount of
R400,000, which was due and payable only on 30 April 2025, and that Thabo had
made an early repayment in full to his cousin on 29 January 2025. Thabo had wanted
to ensure that should one of his creditors apply for the sequestration of his estate, his
family members would not suffer any financial loss. With the above in mind, discuss
whether Maria is likely to be successful in an application for a court order for the
sequestration of Thabo’s estate. Include in your discussion the requirements she must
prove to succeed with such an application. TOTAL FOR ASSIGNMENT 01: [10
FOR EXAMS, PORTFOLIO, AND ASSIGNMENT ASSISTANCE WHATSAPP
0727679597 EMAIL:
QUESTION 1
Questions
Thabo owes an amount of R2 567 374.00 to his creditors. Since Thabo’s retrenchment
by his long-standing employer in March 2024, Thabo has been experiencing ongoing
financial difficulty. He has failed to pay his debts over the past few months, and since
30 November 2024 his liabilities have exceeded his assets. Maria is one of Thabo’s
creditors, who is owed an amount of R320 000 by Thabo. Thabo’s debt to Maria was
due and payable on 5 January 2025, but Thabo failed to pay the debt. Disappointed at
this, Maria undertook an investigation into Thabo’s financial affairs. She has
established that Thabo owns an apartment valued at R2 250 000 and furniture valued
at R300,000. She has also discovered that Thabo had owed his cousin an amount of
R400,000, which was due and payable only on 30 April 2025, and that Thabo had
made an early repayment in full to his cousin on 29 January 2025. Thabo had wanted
to ensure that should one of his creditors apply for the sequestration of his estate, his
family members would not suffer any financial loss. With the above in mind, discuss
whether Maria is likely to be successful in an application for a court order for the
sequestration of Thabo’s estate. Include in your discussion the requirements she must
prove to succeed with such an application. TOTAL FOR ASSIGNMENT 01: [10
FOR EXAMS, PORTFOLIO, AND ASSIGNMENT ASSISTANCE WHATSAPP
0727679597 EMAIL:
QUESTION 1
