South Africa Case Law

Lexshell 824 Investments Proprietary Limited v Wiese (8603/2021)

Lexshell 824 Investments Proprietary Limited v Wiese (8603/2021) [2024] ZAGPPHC 691 (19 July 2024)

Court

North Gauteng High Court, Pretoria

Case number

8603/2021

Judge

JA Kok

The court found that the applicant failed to establish a reasonable prospect of advantage to creditors from the sequestration of the respondent's estate. The respondent's assets and liabilities were transparently disclosed, and there was no evidence of irregular or impeachable transactions that would justify an inquiry likely to uncover further assets. The respondent had made payment arrangements with most creditors and was in salaried employment, suggesting that ongoing repayments would yield a greater benefit to creditors than sequestration. The risk of negligible dividends and potential li…

Source excerpt

• Sequestration
• Advantage To Creditors
• Insolvency Act
• Pecuniary Benefit
• Creditor Dividend

Le Sueur v Stainton (12504/2022P)

Le Sueur v Stainton (12504/2022P) [2023] ZAKZPHC 101 (6 October 2023)

Court

Kwazulu-Natal High Court, Pietermaritzburg

Case number

12504/2022P

Judge

A M Annandale

The High Court confirmed a provisional sequestration order, finding a reasonable prospect that enquiry could reveal assets for creditors despite the respondent’s denial of assets.

• Sequestration Advantage To Creditors
• Insolvency Act Section 12
• Nulla Bona Return
• Pecuniary Benefit
• Trust Asset Investigation
• Sequestration

Industrial Development Corporation of South Africa Ltd v Burger and Another, InRe; Industrial Development Corporation od South Africa Ltd v Burger and Another (10679/13 & 10680/13)

Industrial Development Corporation of South Africa Ltd v Burger and Another, InRe; Industrial Development Corporation od South Africa Ltd v Burger and Another (10679/13 & 10680/13) [2014] ZAWCHC 23 (4 March 2014)

Court

Western Cape High Court, Cape Town

Case number

10679/13 & 10680/13

Judge

Rogers

The court granted final sequestration orders against the Burger brothers, finding a reasonable prospect of benefit to creditors through dividends and investigation.

• Final Sequestration
• Advantage To Creditors
• Insolvency Act
• Pecuniary Benefit
• Investigation Of Estate
• Final-sequestration