African Bank Ltd v Weiner and Others (051/2004)
African Bank Ltd v Weiner and Others (051/2004) [2005] ZASCA 22; 2005 (4) SA 363 (SCA) (29 March 2005)
The Supreme Court of Appeal held that the 12.5% cap in section 74L applies only to necessary expenses and remuneration, not to costs incurred due to debtor default or disappearance. Costs arising from section 65 proceedings are recoverable separately, but only one collection commission may be claimed, and attorney-administrators cannot claim a section 65 collection fee in addition to the fee under section 74. Attorney-administrators act in a professional capacity throughout and must deposit all monies received into a trust account in terms of the Attorneys Act. Interest accrued on trust accou…
Source excerpt
- Administration Orders
- Magistrates Courts Act
- Attorneys Trust Accounts
- Collection Fees
- Fiduciary Duties
- Interest On Trust Accounts