Vermaak v Joubert & May (171/88)
Vermaak v Joubert & May (171/88) [1990] ZASCA 56; 1990 (3) SA 866 (AD); [1990] 2 All SA 388 (A) (30 May 1990)
The court held that the advertisements published by Joubert & May did not comply with section 34(1) of the Insolvency Act, as they were published after the sale had already taken place, rather than at least 30 days before as required. Consequently, the sale was void against creditors for six months from the date of sale. However, Vermaak did not execute against the business assets within this six-month period, and his claim did not relate to a debt connected with the business. The second execution, which occurred outside the statutory period, was invalid. As a result, Schilt suffered no loss,…
Source excerpt
- Insolvent Trading
- Publication Of Notice
- Nullity Of Transfer
- Estoppel
- Execution Against Property