THE NCA AND SEQUESTRATION APPLICATIONS. André Boraine and Corlia van Heerden. University of Pretoria
|
|
|
- Prudence Ramsey
- 6 years ago
- Views:
Transcription
1 THE NCA AND SEQUESTRATION APPLICATIONS by André Boraine and Corlia van Heerden University of Pretoria 1
2 THE NCA AND SEQUESTRATION APPLICATIONS - NCA presents challenges, especially due to extensive debt enforcement provisions as well as novel debt relief measures - Credit providers may still have reason to prefer to sequestrate and - debtors may prefer voluntary surrender 2
3 INITIAL OBSERVATIONS Debt relief prior to NCA Administration orders No discharge or time limit Voluntary re-arrangement Based on consent Sequestration Voluntary Compulsory Rehabilitation discharge 3
4 INITIAL OBSERVATIONS Since NCA debt review and debt rearrangement But NCA applies only to credit agreement debt 4
5 INITIAL OBSERVATIONS NCA does not contain bar against sequestration Additional requirements? Question ss 129 read with 130 and 88(3) bar against sequestration? 5
6 COMPULSORY SEQUESTRATION (GENERAL) Compulsory sequestration Applicant-creditor Formalities Act of insolvency/ actual insolvency Reason to believe to the advantage of creditors Alternatives to sequestration Intervention Inherent discretion of court Advantage To prevent abuse of powers 6
7 COMPULSORY SEQUESTRATION INVESTEC V MUTEMERI 2010 (1) SA 265 (GSJ) Facts: Application for compulsory sequestration Credit agreement debt only Applicants already applied for debt review prior to sequestration application- Application for debt restructuring enrolled to be heard in approximately year s time 7
8 COMPULSORY SEQUESTRATION Respondents argued that: Sequestration = debt enforcement Since under debt review, cannot sequestrate due to section 88(3) bar against debt enforcement Implication if correct - before credit provider can sequestrate must also send debtor section 129(1)(a) notice etc 8
9 Is sequestration debt enforcement for purposes of the NCA? Often said sequestration = collective debt collection procedure Answer debt enforcement no, reasons: Sequestration not civil suit to enforce rights; Brings about a concursus creditorum 9
10 Is sequestration debt enforcement for purposes of the NCA? Mutemeri confirmed in: Naidoo v ABSA Bank (391/2009) [2010] ZASCA 72 Effect: A credit provider need not comply with the procedure provided for in s 129(1)(a) of the NCA Application may be brought while consumer already subject to debt review/ restructuring 10
11 Observations re compulsory sequestration Creditor initiated + more relaxed onus Application does not show complete debt situation of debtor Usually relies on act of insolvency Cannot be required to address advantage of NCA debt relief unless debtor went for debt review and debt counsellor approached creditor with proposals etc 11
12 Observations re compulsory sequestration Creditor cannot force debtor to go for debt review or other creditors to co-operate Intervening creditor/debtor may argue NCA yields better advantage, thus may still play in on advantage principle 12
13 VOLUNTARY SURRENDER Applicant- debtor Requirements: Formal steps Factual insolvency Sufficient free residue to pay costs Advantage of creditors Discretion 13
14 VOLUNTARY SURRENDER Ex parte Ford 2009 (3) SA 376 (WCC): Voluntary surrender applications Major portion of debt: credit agreements in these instances Disproportionate: suspicion of reckless credit Section 85 of NCA: discretion to refer for debt review Applications turned down 14
15 VOLUNTARY SURRENDER Underlying principle: the procedure of voluntary surrender was primarily designed for the benefit of creditors, and not for the relief of harassed debtors. Per Holmes, J, Ex Parte Pillay SA 309 (N)
16 VOLUNTARY SURRENDER: observations Debtor initiated + stringent onus re advantage Effect eventually same as compulsory sequestration Significance of NCA for voluntary surrender? Should not elevate debt review to statutory requirement Courts must not blindly exercise section 85 discretion 16
17 VOLUNTARY SURRENDER: observations Debt review per se transitory measureadvantage lies in debt rearrangement/ rescheduling Caveat to courts against blindly exercising section 85 discretion Should heed to intervention by creditors, or not Should consider effect of a particular debt relief procedure on total debt situation 17
18 FINAL OBSERVATIONS NCA has an impact on sequestration Quest for proper debt relief continues SA: discharge flows from sequestration Some other systems: Repayment plans time restricted (discharge in part) Sequestration not advantage requirement (exclude) NINA estates 18
Background to certain aspects relating to consumer insolvency law in South Africa. December 10,
Background to certain aspects relating to consumer insolvency law in South Africa December 10, 2012 2 From Memphis to SA Memphis, Tennessee, is famous for the blue suede shoes, barbeques and bankruptcies.
A comment on debt relief options for insolvent consumer debtors. in South Africa. Anele Innocentia Nombuso Xulu. Student number
A comment on debt relief options for insolvent consumer debtors in South Africa by Anele Innocentia Nombuso Xulu Student number 209503935 Submitted in partial fulfilment of the requirements for the degree
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT. Firstrand Bank Limited
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Case No: 20003/2014 Reportable In the matter between: Firstrand Bank Limited Appellant and Raymond Clyde Kona Amie Gertrude Kona First Respondent Second
CHAPTER 6 TREATMENT OF THE HOME IN SOUTH AFRICAN INSOLVENCY LAW. How does it feel To be without a home Like a complete unknown Like a rolling stone?
CHAPTER 6 TREATMENT OF THE HOME IN SOUTH AFRICAN INSOLVENCY LAW How does it feel To be without a home Like a complete unknown Like a rolling stone? - From Like a Rolling Stone by Bob Dylan (1965) 6.1 Introduction
AN APPRAISAL OF THE S.A. INSOLVENCY LAW REFORM PROGRAMME AND SOME POINTERS FOR NAMIBIA Paper prepared by: André Boraine
AN APPRAISAL OF THE S.A. INSOLVENCY LAW REFORM PROGRAMME AND SOME POINTERS FOR NAMIBIA Paper prepared by: André Boraine 2015 Part A: Various aspects 1 BACKGROUND (Pre 2008) ADVENT 1980 s SAL(R)C PROJECT
NOTES / AANTEKENINGE
NOTES / AANTEKENINGE SOME NOTABLE DIVERGENCES IN THE DEVELOPMENT OF SOUTH AFRICAN AND NAMIBIAN INSOLVENCY LAW 1 Introduction It is a well-known fact that the legal systems of South Africa and Namibia,
NEDBANK LTD V MOTAUNG AND THE INTERPRETATION OF SECTION 86(2) UNDER THE MAGNIFYING GLASS
NEDBANK LTD V MOTAUNG AND THE INTERPRETATION OF SECTION 86(2) UNDER THE MAGNIFYING GLASS Introduction Debt Review Section 86(2) Section 129 notice Does the delivery of a section 129 notice constitute a
HIGH COURT OF SOUTH AFRICA (GAUTENG DIVISION, PRETORIA) REGINA CATHARINA OBERHOLZER. In an application for the voluntary surrender of her estate
HIGH COURT OF SOUTH AFRICA (GAUTENG DIVISION, PRETORIA) Not reportable Of interest to other Judges CASE NO. 4251/2017 REGINA CATHARINA OBERHOLZER Applicant In an application for the voluntary surrender
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT NATIONAL CREDIT REGULATOR
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT REPORTABLE Case No: 798/12 In the matter between: CHRISTOPH BORNMAN APPELLANT and NATIONAL CREDIT REGULATOR RESPONDENT Neutral citation: Bornman v National
ASPECTS OF DEBT ENFORCEMENT UNDER THE NATIONAL CREDIT ACT 34 OF NONTEMBEKO MATHE-NDLAZI Student No
ASPECTS OF DEBT ENFORCEMENT UNDER THE NATIONAL CREDIT ACT 34 OF 2005 by NONTEMBEKO MATHE-NDLAZI Student No. 11367238 Submitted in fulfillment of the requirements for the degree LLM (LAW OF CONTRACTS) At
The debt review process and the right to terminate: A tale of the National Credit Act. Submitted by: Thulani Livingstone Mtshwene.
The debt review process and the right to terminate: A tale of the National Credit Act Submitted by: Thulani Livingstone Mtshwene (s24405002) in accordance with the requirements of the degree Magister Legum
The Advantage Requirement in Sequestration Applications: A Call. for Relaxation. Ndatega Victoria Asheela
The Advantage Requirement in Sequestration Applications: A Call for Relaxation by Ndatega Victoria Asheela Submitted in partial fulfillment of the requirements for the degree LLM (Mercantile Law) In the
IN THE HIGH COURT OF SOUTH AFRICA, (NORTH GAUTENG, PRETORIA)
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy IN THE HIGH COURT OF SOUTH AFRICA, (NORTH GAUTENG,
THE DEBT COUNSELLING PROCESS CLOSING THE LOOPHOLES IN THE
THE DEBT COUNSELLING PROCESS CLOSING THE LOOPHOLES IN THE NATIONAL CREDIT ACT 34 OF 2005 ISSN 1727-3781 2009 VOLUME 12 No 4 THE DEBT COUNSELLING PROCESS CLOSING THE LOOPHOLES IN THE NATIONAL CREDIT ACT
In this paper my focus will be on the Court s application and interpretation of section 85 in summary judgement against immovable property.
1. Introduction The National Credit Act (the Act) came into operation at a time where consumer laws were somewhat unheard of in South Africa. Prior to the Act, the Credit Agreements Act and the Usury Act
The Requirement of Advantage to Creditors in South African Insolvency Law a Critical Appraisal
The Requirement of Advantage to Creditors in South African Insolvency Law a Critical Appraisal Jean Chrysostome Kanamugire Lecturer, Faculty of Law, North-West University Email: jean.kanamugire@nwu.ac.za
IN THE HIGH COURT OF SOUTH AFRICA (WESTERN CAPE DIVISION, CAPE TOWN) Before: The Hon. Mr Justice Binns-Ward
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy Republic of South Africa IN THE HIGH COURT OF SOUTH
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Reportable Case No: 577/2011 In the matter between: JAN GEORGE STEPHANUS SEYFFERT First Appellant HELENA SEYFFERT Second Appellant and FIRSTRAND BANK
IN THE HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION, PRETORIA. PETRUS JOHANNES VAN DYK...Applicant JUDGMENT
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy IN THE HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION,
Costa Rican Bankruptcy Rules: What Every Investor Needs To Know
Costa Rican Bankruptcy Rules: What Every Investor Needs To Know By ANDRÉS LÓPEZ Introduction Costa Rican law on insolvency and bankruptcy creates a fairly reliable system that offers stability and solutions
Debt Counselling after the Task Team
Debt Counselling after the Task Team DEBT COUNSELLING The Debt Counselling process was 4 years old in June 2011 We started with an Act but no process or systems In November 2007 the Workstream Group agreed
REPUBLIC OF SOUTH AFRICA IN THE HIGH COURT OF SOUTH AFRICA (LIMPOPO DIVISION, POLOKWANE)
1 SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy REPUBLIC OF SOUTH AFRICA IN THE HIGH COURT OF
Debt Relief National Credit Amendment Bill: deliberations 13 March 2018
Debt Relief National Credit Amendment Bill: deliberations 13 March 2018 Meeting Summary: The sub-committee on Trade and Industry invited the National Treasury and Eighty20 to deliberate on the Debt Relief
Enforcement Guide. Chapter 13. Insolvency
Enforcement Guide Chapter Insolvency Section.1 : Introduction.1 Introduction.1.1 This chapter explains the FCA's policies on how it uses its powers under the Act to apply to the court for orders under
Comparative Insolvency and Bankruptcy Law Course Barry University, School of Law St. Thomas School of Law Professor Coco Summer 2014 Credits: 3
Professor Contact Information Office Location: Phone Number: Comparative Insolvency and Bankruptcy Law Course Barry University, School of Law St. Thomas School of Law Professor Coco Summer 2014 Credits:
LIQUIDATIONS AND INSOLVENCIES EXPLAINED
LIQUIDATIONS AND INSOLVENCIES February 2018 Liquidations and Insolvencies Explained When a business or a person is unable to pay their debts when they become due, they are considered to be insolvent. The
Presentation to the Portfolio Committee for Trade and Industry Nedbank Perspectives on Debt Relief. A Member of the
Presentation to the Portfolio Committee for Trade and Industry Nedbank Perspectives on Debt Relief A Member of the Group 1 OUR PHILOSOPHY Our strong legacy position as SA s green and caring bank means
Pre-Agreement Assessment as a Responsible Lending Tool in South-Africa, the EU and Belgium: Part 1
Pre-Agreement Assessment as a Responsible Lending Tool in South-Africa, the EU and Belgium: Part 1 CM VAN HEERDEN & R STEENNOT PER / PELJ 2018 (21) 1 CM van Heerden* and R Steennot** Pioneer in peer-reviewed,
Corlia van Heerden B Proc LLB LLM LLD Professor of Mercantile Law, University of Pretoria Wayne O Reilly LLB Director, VHI Attorneys, Pretoria
Debt restructuring, partisan debt counsellors, costs and other important debt counselling issues. An appraisal of the legal position in view of Firstrand Bank v Barnard 2015 JDR 1614 (GP) Corlia van Heerden
Section 85 of the National Credit Act 34 of 2005: thoughts on its scope and nature
Section 85 of the National Credit Act 34 of 2005: thoughts on its scope and nature Corlia van Heerden B Proc LLB LLM LLD Professor, Department of Mercantile Law, University of Pretoria OPSOMMING Artikel
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT In the matter between: Not Reportable Case No: 20264/2014 ABSA BANK LTD APPELLANT And ETIENNE JACQUES NAUDE N.O. LOUIS PASTEUR INVESTMENTS LIMITED LOUIS
INSOLVENCY LAW: * An individual person is liable to be sequestrated and a corporate entity is liable to be liquidated or wound-up.
INSOLVENCY LAW: * 1 1 GENERAL PRINCIPLES 1.1 Insolvency law contemplates two scenarios, one where an individual person finds himself in insolvent circumstances and, second where a corporate entity finds
Case No: A629/2013 MOTOR FINANCE CORPORATION (PTY) LTD
1 DELETE WHICHEVER IS NOT APPLICABLE IN THE NORTH GAUTENG HIGH COURT, PRETORIA (REPUBLIC OF SOUTH AFRICA) (1) REPORTABLE: YES / NO (2) OF INTEREST TO OTHERS JUDGES: YES / NO (3) REVISED...... Case No:
University of Cape Town
BIBIANA MWANSA MWAPE MWPBIB002 LLM (COMMERCIAL LAW) University of Cape Town DR. ANDREW HUTCHISON AN ANALYSIS OF SECTION 86(10) OF THE NATIONAL CREDIT ACT NO. 32 OF 2005. WORD COUNT: 23190 The copyright
New Law on Financial Restructuring: what to expect
1 New Law on Financial Restructuring: what to expect Briefing note September 2016 New Law on Financial Restructuring: what to expect On 14 June 2016, the Verkhovna Rada (the Parliament ) passed a new Law
APPLICATION BY CONSUMER FOR DEBT REVIEW In terms of section 86 of the National Credit Act 34 of 2005
APPLICATION BY CONSUMER FOR DEBT REVIEW In terms of section 86 of the National Credit Act 34 of 2005 PLEASE NOTE THAT: 1. On receipt of this application the debt counsellor will advise all credit providers
AN EXAMINATION OF INSOLVENCY ALTERNATIVES FOR CORPORATE AND NON CORPORATE ENTITIES IN SOUTH AFRICA CHINWE CHIWETE REG NO:
AN EXAMINATION OF INSOLVENCY ALTERNATIVES FOR CORPORATE AND NON CORPORATE ENTITIES IN SOUTH AFRICA By CHINWE CHIWETE REG NO:10180584 Submitted in accordance with the requirements for the degree of MASTERS
ONGOING RECKLESS LENDING IN SOUTH AFRICA: MINISTERS WISH LIST TO END ABUSE OF DEBT
ONGOING RECKLESS LENDING IN SOUTH AFRICA: MINISTERS WISH LIST TO END ABUSE OF DEBT Anis Mahomed Karodia (PhD) Senior Faculty Member and Researcher at the Regent Business School, Durban, South Africa Dhiru
Guidance on consumer credit debt counselling
Guidance on consumer credit debt counselling The following guidance explains when firms providing advice to a client will be performing the consumer credit regulated activity of debt counselling. The guidance
Questions and Answers About Farm Debt
Revised October 2003 Agdex 817-14 Questions and Answers About Farm Debt This factsheet addresses some of the common, and some not-so-common, questions asked by farmers about the legal implications of debt.
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT THE TRUSTEES OF THE INSOLVENT ESTATE OF GRAHAME ERNEST JOHN WHITEHEAD
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Case No: 323/12 Reportable In the matter between: THE TRUSTEES OF THE INSOLVENT ESTATE OF GRAHAME ERNEST JOHN WHITEHEAD APPELLANT and LEON JEAN ALEXANDRE
IN THE HIGH COURT, OF SOUTH AFRICA GAUTENG DIVISION, PRETORIA. In the EX PARTE application by: DATE: 15/10/2014 JUDGMENT
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy 1 IN THE HIGH COURT, OF SOUTH AFRICA GAUTENG DIVISION,
SUMMARY OF RECOMMENDATIONS BY THE INSOLVENCY LAW REVIEW COMMITTEE
SUMMARY OF RECOMMENDATIONS BY THE INSOLVENCY LAW REVIEW COMMITTEE 1. It is important that our insolvency regime is kept updated in order to remain modern and relevant. Whilst both the personal insolvency
I,, ID number and (spouse if. applicable), ID number hereby. acknowledge that I/we am/are currently unable to meet my/our monthly commitments towards
POWER OF ATTORNEY Part 1 - Power of Attorney Allocation Details: Debt Counsellor Trading Name: Debt Inc Debt Counsellor Contact Person: NCR Reference No: NCRDC Business Registration No: 2010/003722/07
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT DAVID WALLACE ZIETSMAN MULTICHOICE AFRICA (PTY) SECOND RESPONDENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Case No: 771/2010 In the matter between: DAVID WALLACE ZIETSMAN APPELLANT and ELECTRONIC MEDIA NETWORK LIMITED MULTICHOICE AFRICA (PTY) LIMITED FIRST
IN THE HIGH COURT OF SOUTH AFRICA, FREE STATE DIVISION, BLOEMFONTEIN
IN THE HIGH COURT OF SOUTH AFRICA, FREE STATE DIVISION, BLOEMFONTEIN Reportable: YES Of Interest to other Judges: YES Circulate to Magistrates: NO In the matter between: JOHANNES BOTHA Case number: 4457/2016
MABS NATIONAL DEVELOPMENT CLG
MABS NATIONAL DEVELOPMENT CLG Consultation EU Commission Proposed A submission on the proposal for a Directive on insolvency, debt, restructure and second chance Contents Introduction... 2 Submission...
What is insolvency? SECTION8. SECTION 8: page 1 of 8. Available on on Independent of of Nationwide.
SECTION8 Insolvency procedures in England and Wales in Scotland in Northern Ireland Available on on Independent of of Nationwide products products and and services services What is insolvency? Insolvency
Portfolio Committee on Trade and Industry
Portfolio Committee on Trade and Industry Presentation on the Draft National Credit Amendment Bill published in Government Gazette No. 41274 of 24 November 2017, lead by Ambassador Abba Omar 31 January
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA OAKLAND DIVISION
Tracy Green (Bar No. ) WENDEL, ROSEN, BLACK & DEAN LLP Oakland, California 0 Telephone: () -00 Fax: () - Email: tgreen@wendel.com Counsel for Official Unsecured Creditors Committee UNITED STATES BANKRUPTCY
A Guide to a Personal Insolvency Arrangement ( PIA )
A Guide to a Personal Insolvency Arrangement ( PIA ) May 2013 Contents Introduction... 2 What is a Personal Insolvency Arrangement?... 2 Who can propose a Personal Insolvency Arrangement?... 3 What type
Schedule B of Regulatory Guide 16 Report to ASIC under s422, s438d or s533 of the Corporations Act 2001 or for statistical purposes
Australian Securities & Investments Commission Schedule B of Regulatory Guide 16 Report to ASIC under s422, s438d or s533 of the Corporations Act 2001 or for statistical purposes (see Regulatory Guide
Filing a Debt Amortization Debt Case Under Wis. Stats IN MILWAUKEE COUNTY 1. Petition to Amortize Debts
Index of exhibits 1.0 Filing a Debt Amortization Case Under Wis. Stats. 128.21 In Milwaukee County 1.1 Petition to Amortize Debts 1.2 Affidavit of Debts 1.3 Order Appointing Trustee and Enjoining Creditors
External Debt Statistics Survey (EDSS)
CENTRALE BANK VAN ARUBA Balance of Payments Notes to the Annual External Debt Statistics Survey (EDSS) June 2013 Prepared by the Statistics Department Centrale Bank van Aruba J.E. Irausquin Boulevard 8
FRANCHISE OPPORTUNITY 2013
FRANCHISE OPPORTUNITY 2013 HISTORY AND FOOTPRINT OF DEBT SMART HOLDINGS (PTY) LTD Moved into Debt Counselling profession in June 2008 Algoa Debt Counsellors. Explored viability of various business models
FREE STATE HIGH COURT, BLOEMFONTEIN REPUBLIC OF SOUTH AFRICA SOUTH AFRICAN REVENUE SERVICE. DAFFUE, J et WILLLIAMS, AJ
FREE STATE HIGH COURT, BLOEMFONTEIN REPUBLIC OF SOUTH AFRICA In the matter between:- Case No. : A145/2014 SOUTH AFRICAN REVENUE SERVICE Appellant and R D VAN WYK Respondent CORAM: DAFFUE, J et WILLLIAMS,
FREE STATE HIGH COURT, BLOEMFONTEIN REPUBLIC OF SOUTH AFRICA
FREE STATE HIGH COURT, BLOEMFONTEIN REPUBLIC OF SOUTH AFRICA In the matter between:- Case No. : 1661/2012 Case No. : 1662/2012 THE STANDARD BANK OF S A LIMITED Applicant vs STEPHANUS PETRUS JOHANNES STRYDOM
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT In the matter between: Case No: 661/09 J C DA SILVA V RIBEIRO L D BOSHOFF First Appellant Second Appellant v SLIP KNOT INVESTMENTS 777 (PTY) LTD Respondent
SYNOPSIS. May In this issue. Regional offices. Disputes between SARS and taxpayers - new procedures.. 2
SYNOPSIS In this issue Disputes between SARS and taxpayers - new procedures.. 2 Financial managers liable for employees tax and VAT. 5 Does interest accrue if it can be set aside on insolvency?.. 6 Tax
INSOLVENCY PRACTITIONERS ASSOCIATION CERTIFICATE OF PROFICIENCY IN INSOLVENCY ENGLAND & WALES. Examination 8 June 2018
INSOLVENCY PRACTITIONERS ASSOCIATION CERTIFICATE OF PROFICIENCY IN INSOLVENCY ENGLAND & WALES Examination 8 June 2018 INSOLVENCY (3 HOURS) Part A: Part B: Part C: Part D: All questions to be answered (10
THE SUPREME COURT OF APPEAL REPUBLIC OF SOUTH AFRICA. MOMENTUM GROUP LIMITED Appellant. P J M VAN STADEN NO 1 ST Respondent
THE SUPREME COURT OF APPEAL REPUBLIC OF SOUTH AFRICA JUDGMENT Case No: 187/08 MOMENTUM GROUP LIMITED Appellant and P J M VAN STADEN NO 1 ST Respondent NEDBANK LIMITED 2 ND Respondent Neutral citation:
mg Doc 143 Filed 05/23/12 Entered 05/23/12 15:25:55 Main Document Pg 1 of 6 ) ) ) ) ) ) ) Chapter 11
Pg 1 of 6 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: RESIDENTIAL CAPITAL, LLC, et al., Debtors. Case No. 12-12020 (MG Chapter 11 Jointly Administered ORDER AUTHORIZING THE DEBTORS
(4) If a person acts in contravention of this section, he is liable to imprisonment or a fine, or both.
Insolvency Act 1986 Section 216 Restriction on re-use of company names (1) This section applies to a person where a company ( the liquidating company ) has gone into insolvent liquidation on or after the
REPUBLIC OF KOREA Special Rehabilitation Proceedings for MSMEs
REPUBLIC OF KOREA Special for MSMEs Ministry of Justice, Republic of Korea I. Court-Supervised Insolvency in Korea 1. Types of the Insolvency The principal insolvency legislation in the Republic of Korea
ADVANTAGES OF BANKRUPTCY
BANKRUPTCY This fact sheet is for information only. It is recommended that you get legal advice about your situation. CASE STUDY Tony had a very bad back and had to stop work. He thought that his back
Legal Alert June 2007 Bills of Sale Law
Legal Alert June 2007 Bills of Sale Law In this Issue:- 1. Business Quote for the Month 2. Legal News 3. Legal Alert for June 2007? Bills of Sale Law 4. Subscribe & Unsubscribe to Legal Alerts. 5. Disclaimer
IN THE HIGH COURT OF SOUTH AFRICA (EASTERN CAPE, PORT ELIZABETH) CASE NO.: 2306/2012. In the matter between: And JUDGMENT BESHE, J:
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy IN THE HIGH COURT OF SOUTH AFRICA (EASTERN CAPE,
Revised Draft. based on. and. INSOLVENCY AND CREDITOR/DEBTOR REGIMES STANDARD Revised 20 Jan 11
Revised Draft INSOLVENCY AND CREDITOR/DEBTOR REGIMES STANDARD based on THE WORLD BANK PRINCIPLES FOR EFFECTIVE INSOLVENCY AND CREDITOR/DEBTOR REGIMES * and UNCITRAL LEGISLATIVE GUIDE ON INSOLVENCY LAW
CREDIT DEBT AND CONSUMER INSOLVENCY REGULATION: FUNDAMENTAL ISSUES
PROFESSOR IAIN RAMSAY PRESENTATION AT 2009 LAW REFORM COMMISSION OF IRELAND ANNUAL CONFERENCE DUBLIN NOV18 2009 CREDIT DEBT AND CONSUMER INSOLVENCY REGULATION: FUNDAMENTAL ISSUES Context World financial
COMPANY INSOLVENCY. Procedures open to an insolvent company are as follows: Administration. Company Voluntary Arrangement (CVA)
COMPANY INSOLVENCY A company becomes insolvent if it has insufficient assets to meet its liabilities and/or it cannot pay its debts on the due dates. It is the directors responsibility to know whether
Marine & Civil Pty Ltd (Administrators Appointed) ACN (Marine & Civil) Circular to Creditors
Marine & Civil Pty Ltd (Administrators Appointed) ACN 147 854 635 (Marine & Civil) Circular to Creditors We refer to our previous correspondence regarding the appointment of Rob Brauer and I as Voluntary
NCR TASK TEAM. NCR Task Team Practical Guidelines for Debt Counsellors
NCR TASK TEAM NCR Task Team Practical Guidelines for Debt Counsellors Compiled and Issued by DCASA on 17 August 2016 NCR Task Team Guidelines Training The purpose of the NCR Task Team Guideline Training
Global Restructuring & Insolvency Guide
Global Restructuring & Insolvency Guide Thailand Overview and Introduction Following the Asian economic crisis, Thailand made significant revisions to the Bankruptcy Act (1940) and assigned a Bankruptcy
Case BFK Doc 17 Filed 10/03/13 Entered 10/03/13 10:52:37 Desc Main Document Page 1 of 8
Document Page 1 of 8 UNITED STATES BANKRUPTCY COURT EASTERN DISTRICT OF VIRGINIA Alexandria Division In re: ) ) ROBERT A. WOLF ) Case No. 13-13174-BFK ) Chapter 13 Debtor ) ORDER OVERRULING CHAPTER 13
Tired of Chasing Unpaid Rates? Exploring the option of Bankruptcy
Tired of Chasing Unpaid Rates? Exploring the option of Bankruptcy Presentation By: Marelda Hibberd Partner Restructuring & Insolvency 1 Jessica Allen Lawyer Restructuring & Insolvency 20 April 2018 Date
A submission to the Insolvency Service of Ireland on amendments to the Personal Insolvency Act, 2012
MABS National Development CLG and Citizens Information Board April 2017 A submission to the Insolvency Service of Ireland on amendments to the Personal Insolvency Act, 2012 Contents Introduction... 2 Supervision
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Not Reportable Case No: 569/2015 In the matter between: GOLDEN DIVIDEND 339 (PTY) LTD ETIENNE NAUDE NO FIRST APPELLANT SECOND APPELLANT And ABSA BANK
Debt Review NCRDC183
Debt Review NCRDC183 APPLICATION BY CONSUMER FOR DEBT REVIEW IN TERMS OF SECTION 86 OF THE NATIONAL CREDIT ACT 34 OF 2005 Date No. of Applicants Ref No NCRDC183 Debt Counselor HILTON VAN AS APPLICATION
Debt Review Information Pack
Debt Review Information Pack First National Bank - a division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20). it sssssssssss Introduction The Debt Review Process
NPL reduction in some EU countries lessons for Cyprus
NPL reduction in some EU countries lessons for Cyprus Filip Keereman* Head of Unit, National Financial Systems (FISMA.E.2) Conference: solving NPLs through innovative solutions 5 February 2016 Nicosia
Personal Glossary of Terms
Annual Report Insolvency practitioners are obliged to produce regular reports detailing their actions, including an account of what money they have received from insolvent companies and individuals and
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Case No: 273/09 ABERDEEN INTERNATIONAL INCORPORATED Appellant and SIMMER AND JACK MINES LTD Respondent Neutral citation: Aberdeen International Incorporated
What is 'Winding Up. Various Methods by Which the Company Could be Wound Up
OF A COMPANY What is 'Winding Up. The process of selling all the assets of a business, paying off creditors, distributing any remaining assets to the principals or parent company, and then dissolving the
Global Restructuring & Insolvency Guide
Japan Global Restructuring & Insolvency Guide Overview and Introduction Japanese insolvency laws have undergone significant reform since 1996, particularly in the past decade. The changes addressed a number
Scottish Insolvency Statistics : Quarter 1 Release
Scottish Insolvency Statistics 2013-14: 1 Release An Official Statistics Publication for Scotland 24 July 2013 Introduction This release provides Scottish insolvency statistics compiled by Accountant in
COMMISSIONER, SOUTH AFRICAN REVENUE SERVICE
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA JUDGMENT Case no: 598/2015 Reportable In the matter between: COMMISSIONER, SOUTH AFRICAN REVENUE SERVICE Appellant and VAN DER MERWE, LIEBENBERG DAWID RYK NO
Debt Counsellors Code of Conduct for Debt Review
Debt Counsellors Code of Conduct for Debt Review Debt Counsellors Code of Conduct for Debt Review Page 1 1. Preamble 1.1. By subscribing to this Code of Conduct (Code), I undertake to support the provisions
The Voice of the Legal Profession. Collection and Debt Settlement Services Act regulation reform. Consumer Services
The Voice of the Legal Profession Collection and Debt Settlement Services Act regulation reform Submitted to: Submitted by: Ministry of Government and Consumer Services Ontario Bar Association Date: October
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA
THE SUPREME COURT OF APPEAL OF SOUTH AFRICA In the matter between Case number: 578/95 ABSA BANK LIMITED Appellant and STANDARD BANK OF SA LIMITED Respondent COURT: MAHOMED CJ, VAN HEERDEN DCJ, EKSTEEN,
Frank Field MP Work & Pensions Select Committee House of Commons LONDON SW1A 0AA. 24 June Dear Mr Field
Frank Field MP Work & Pensions Select Committee House of Commons LONDON SW1A 0AA 24 June 2016 Dear Mr Field 1. Further to our letter to the committee of 20 May, this submission provides some further information
Middle East - Developments in Restructuring
8 Clifford Street London W1S 2LQ F: +44.20.7851.6000 Middle East - Developments in Restructuring 1. MIDDLE EAST RESTRUCTURINGS AND REFORM OF INSOLVENCY LEGISLATION 2 2. THE FEDERAL LAWS OF THE UNITED ARAB
Getting Delinquent Accounts to Pay Up. Presented by Larry Holmes
Getting Delinquent Accounts to Pay Up Presented by Larry Holmes Overview 1. Writing a good collection policy 2. Elements of a collection call 3. Handling the no money excuse 4. 5 techniques for collection
The Central Credit Register
A consumer guide to The Central Credit Register www.centralcreditregister.ie What is the Central Credit Register? The Government gave a commitment to the IMF to develop a legal framework that would facilitate
Creditor Banks and Preventive Financial Restructuring Proceeding
Creditor Banks and Preventive Financial Restructuring Proceeding Creditor Banks and Preventive Financial Restructuring Proceeding 2 Content Incorporation into the International Sphere Basic Points of Regulation
(74) THRHR ASPECTS OF INCIDENTAL CREDIT IN TERMS OF THE NATIONAL CREDIT ACT 34 OF 2005
464 2011 (74) THRHR ASPECTS OF INCIDENTAL CREDIT IN TERMS OF THE NATIONAL CREDIT ACT 34 OF 2005 1 Introduction An incidental credit agreement is one of the credit transactions to which the National Credit
A Guide for Creditors
Liquidation/Creditors Committees and Commissioners A Guide for Creditors The Guide is intended to provide you with: > an understanding of the role of the Committee in insolvency proceedings; > information
UNITED STATES BANKRUPTCY COURT DISTRICT OF RHODE ISLAND FOURTH AMENDED LOSS MITIGATION PROGRAM AND PROCEDURES I. PURPOSE
APPENDIX IX (Rev. 2/14/11) UNITED STATES BANKRUPTCY COURT DISTRICT OF RHODE ISLAND FOURTH AMENDED LOSS MITIGATION PROGRAM AND PROCEDURES I. PURPOSE The Loss Mitigation Program (LMP) is designed to function
Money Advice Liaison Group: July 2017: Update from The Insolvency Service
Money Advice Liaison Group: July 2017: Update from The Insolvency Service Official Receiver Services (ORS) update Case numbers Quarter 1 stats release 28 April 2017 Compulsory liquidations: A total of
IN THE HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION, JOHANNESBURG
SAFLII Note: Certain personal/private details of parties or witnesses have been redacted from this document in compliance with the law and SAFLII Policy IN THE HIGH COURT OF SOUTH AFRICA GAUTENG DIVISION,
j.3/ Q-1 pen Jtrfz DATE i) SK3NATURE
IN THE HIGH COURT OF SOUTH AFRICA (NORTH GAUTENG HIGH COURT, PRETORIA) CASE NO: 7170/10 DELETE WHICHEVER IS NOT APPLICABLE In the matter between: (1) REPORTABLE: Y^/NO. (2) OF interestto OXHEB JUDGES: