Sequestration Study guides, Class notes & Summaries

This document contains workings, explanations and solutions to the MRL2601 Assignment 2 (QUALITY ANSWERS) Semester 1 2024. For assistance call or us on 0.6.8..8.1.2..0.9.3.4........ Question 1 1.1 Lesedi and Simphiwe registered Furnmax (Pty) Ltd, a company that sells office equipment. The Memorandum of Incorporation of Furnmax (Pty) Ltd indicates that the board of directors, consisting of Lesedi, Simphiwe, Carol and Precious, can appoint a managing director who would be authorised to contract o...

MRL3701 ASSIGNMENT 2 SEMESTER 1 2024 - DUE 9 April 2024 ... 100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on +/ 2/ 5/ 4 /7 /7 /9 /5 /4 /0 /1 /3 /2 . Wandile owes a total of R3 million to various creditors. His creditors include Zozo to whom he owes R400 000. He also owes R1,3 million to DRG Bank. Last year Wandile invested in a get-rich-quick scheme as a result of which he lost a lot of money. This left him in a dire financial situation. By 31 O...

Well-structured MRL2601 Assignment 2 (ANSWERS) Semester 1 2024 (347800) - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!). Question 1 1.1 Lesedi and Simphiwe registered Furnmax (Pty) Ltd, a company that sells office equipment. The Memorandum of Incorporation of Furnmax (Pty) Ltd indicates that the board of directors, consisting of Lesedi, Simphiwe, Carol and Precious, can appoint a managing director who would be authorised to contract on the company’s behalf. However, the...

MRL2601 ASSIGNMENT 2 SEMESTER % TRUSTED workings, explanations and solutions. Question 1 1.1 Lesedi and Simphiwe registered Furnmax (Pty) Ltd, a company that sells office equipment. The Memorandum of Incorporation of Furnmax (Pty) Ltd indicates that the board of directors, consisting of Lesedi, Simphiwe, Carol and Precious, can appoint a managing director who would be authorised to contract on the company’s behalf. However, the board has never formally appointed a managing director. Neverth...

ANSWERS/ SOLUTIONS WITH REFERENCES & PREVIEW: Question 1 1.1 Explain the purpose of a sequestration order. (5) 1.2 “A sequestration order may not be granted if a debtor has only one creditor and there are not enough assets to cover the costs of sequestration.” Indicate whether this statement is true or false, and then provide the reasons for your answer. (5) 1.3 David approaches you for advice. He informs you that his brother, Samuel, owes him R15 000 for painting ...

MRL3701 ASSIGNMENT 1 SEMESTER 2 - 2023 UNIQUE NUMBER: CLOSING DATE: 31 AUGUST 2023 QUESTION 1 See the table below and match the three columns to answer the following questions. You must therefore answer the question as follows on your answer sheet (see ONLY AN EXAMPLE below) and do so for every question (a) – (e). (a) 1. Case name: Ex Parte Snooke 2014 (5) SA 426 (FB) (1/2 mark) 2. Ratio decidendi of the case: This was an application for rehabilitation. Several cases of abuses o...

Hocklys Insolvency Law 9th E Page v Preface This ninth edition of Hockly’s Insolvency Law follows the expanded format of the previous three editions, and its basic purpose remains the same: to provide a concise, yet fairly detailed, account of the law of insolvency, winding-up, and business rescue proceedings (which have replaced judicial management). The book aims at a wide readership. For the subject specialist, it offers an update of recent developments in the law relating to insolv...

MRL3701 Assignment 1 (ANSWERS) Semester 2 2023 () - DISTINCTION GUARANTEED 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25477 954 0132 . QUESTION: 10 Marks See the table below and match the three columns to answer the following questions. You must therefore answer the question as follows on your answer sheet (see ONLY AN EXAMPLE below) and do so for every question (a) – (e). (a) 1. Case name: Ex Parte Snooke 2014 (5) SA 426 (FB) (1/2 mark) ...

MRL3701 ASSIGNMENT 2 SEMESTER 1 – 2024 (883082) DUE DATE: 09 APRIL 2024 Answer the following questions based on the facts given above: a. Discuss the requirements that an applicant must prove in order to obtain a court order for the sequestration of a debtor’s estate. (3) b. Discuss whether Zozo may successfully apply for a court order for the sequestration of Wandile’s estate. (5) c. Explain the concept of an act of insolvency, and also discuss the main purpose of section 8...

APPLICANT ENTITLED TO APPLY IN TERMS OF s9(1) Proceedings for the compulsory sequestration of debtors estate to be instituted by: a. creditor or his agent who has a liquidated claim against the debtor for not less than R100 b. two or more creditors or their agents who have liquidated claims against the debtor amounting, in aggregate, to not less than R200. Agent must be authorised to do so prior to bringing the application. Applicants lack of authority cannot be cured by ratification once ...