Firstrand Bank Limited v Master of the High Court, Pretoria and Others (2022-035973)
Firstrand Bank Limited v Master of the High Court, Pretoria and Others (2022-035973) [2023] ZAGPPHC 1166 (29 September 2023)
The court found that the Master's rejection of Firstrand's claim was unlawful because the claim existed at the date of provisional sequestration, and payments made after that date could not extinguish the claim for insolvency purposes. The Master exceeded his powers by critically adjudicating the claim rather than accepting it as prima facie valid. Regarding claims 3 to 10, the court held that section 44(4) of the Insolvency Act is peremptory, and the presiding officer had no discretion to admit claims lodged late unless lateness was through no fault of the creditor, which was not established…
Source excerpt
- Insolvency Act Section 151 Review
- Concursus Creditorum
- Proof Of Claims
- Late Lodgement Of Claims
- Prima Facie Claims
- Creditor Rights