Juggernaut Trucking CC v Van Niekerk (2022/024156)
Juggernaut Trucking CC v Van Niekerk (2022/024156) [2023] ZAGPPHC 1767 (22 September 2023)
The applicant has established a reasonable prospect that investigation into the respondent's affairs, including his directorships and trusteeships, may uncover assets for the benefit of creditors. The respondent has not made a full disclosure of his interests in the trusts and companies, and the court is entitled to draw adverse inferences from this lack of transparency. The threshold for benefit to creditors is low, and the applicant need not prove the existence of assets, only that there is a prospect that assets may be revealed through inquiry. The facts and case law cited support the gran…
Source excerpt
- Provisional Sequestration
- Benefit To Creditors
- Insolvency Act
- Suretyship
- Trusts And Juristic Entities