Aveng Africa (Pty) Ltd v Chiedza (2023/014909)
Aveng Africa (Pty) Ltd v Chiedza (2023/014909) [2024] ZAGPPHC 1178 (22 November 2024)
The court found that the respondent's liability as surety was not discharged by the sale of his shareholding in the principal debtor. The judgment debt was obtained against the respondent in his personal capacity and remains unchallenged. The respondent committed an act of insolvency by failing to satisfy the judgment debt and failing to indicate disposable property to the sheriff, resulting in a nulla bona return. The respondent's arguments regarding the transfer of liability and alleged solvency were rejected as legally unfounded and unsupported by the facts. The court held that the require…
Source excerpt
- Final Sequestration
- Suretyship Liability
- Acts Of Insolvency
- Provisional Sequestration
- Debt Recovery