MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES (MRL3701)

MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTESSection 2 of Act – Definitions 'debtor', in connection with the sequestration of the debtor's estate, means a person or a partnership or the estate of a person or 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. A body corporate established in terms of the Sectional Titles Act, 95 of 2986,...

MRL3701 EXAM PACK ANSWERS AND 2021 BRIEF NOTES. Study unit 12 - MEETINGS OF CREDITORS AND PROOF OF CLAIMS You are the trustee of Tenza’s insolvent estate. You have discovered that Tenza paid Bobby, Cynthia, and Donald within six months of the sequestration of his estate, for reasons that remain unclear. You wish to question Bobby, Cynthia, and Donald about these payments. On what occasions could they be questioned? Because a trustee has been appointed in respect of Tenza’s insolvent est...

MRL3701 INSOLVENCY LAW EXAM PACK ANSWERS AND BRIEF NOTES 2021 . QUESTION 1 Fill in the missing words or word: (a) A debtor’s estate is sequestrated, not the debtor himself. (2) (b) The debtor need not have ordinarily resided or carried on business for the entire 12 months preceding the sequestration application: ordinary residence or conduct of business at any time during that period suffices. (2) (c) Free residue’ is defined in s 2 as ‘that portion of the estate which is not subject...