South Africa Case Law

Conradie and Another v Master of the High Court: Kimberly and Others (1260/2006)

Conradie and Another v Master of the High Court: Kimberly and Others (1260/2006) [2008] ZANCHC 50 (13 June 2008)

Court

Northern Cape High Court, Kimberley

Case number

1260/2006

Judge

C J Olivier

The court found that the ER Trust remained in existence after the sequestration of its estate and that the surplus held in the Guardians’ Fund could not be paid to the first applicant personally, as she was neither the insolvent nor a capital beneficiary. The court held that the trust, as a debtor under the Insolvency Act, could apply for rehabilitation, but in this case, the circumstances were sufficiently exceptional to justify setting aside the sequestration order. The trust had been solvent at the time of sequestration, creditors were paid in full, and the sequestration order was based on…

Source excerpt

• Trust Sequestration
• Rehabilitation Of Trust
• Guardians Fund
• Setting Aside Sequestration Order
• Surplus Distribution