High Point Trading 733 Bk t/a High Point Bridging v Potgieter (2270/2010)
High Point Trading 733 Bk t/a High Point Bridging v Potgieter (2270/2010) [2011] ZAFSHC 70 (12 April 2011)
The court found that the applicant did not strictly satisfy the requirements of section 8(b) of the Insolvency Act due to deficiencies in the sheriff's return. However, the evidence established factual insolvency: the respondent failed to pay a judgment debt, did not deny insolvency, and did not provide any details of assets or liabilities to rebut the applicant's case. The respondent's written consent to judgment and the absence of substantive opposition to the applicant's claims further supported the applicant's case. The court was satisfied that sequestration would be to the advantage of c…
Source excerpt
- Final Sequestration Order
- Insolvency Act Section 8b
- Judgment Debt
- Advantage To Creditors
- Nulla Bona Return