Compromise (Section 311 of the Companies Act)
A: The purpose of a Section 311 compromise is to reach a binding agreement between the shareholders and creditors of the company with a...
Creditors in Liquidations
Q: What is a Preferent creditor? A: A preferent creditor is a creditor who holds security for his loans for example the creditor who has...
What is a Secured creditor?
A: A Secured Creditor is a creditor which holds security for the credit. Examples: bond over your company’s property, motorcar/asset...
Q: Who is “The Master of the High Court”?
A: The Master of the High Court is an institution which is the guardian of all insolvents, minor children and the estates of deceased...
Q: What is a: “Trustee”, “Liquidator” and “Curator”?
A: Once a natural person is sequestrated the Master of the High Court appoints a Trustee who must take control of the assets. In case a...
What is the difference between “sequestration”, “bankruptcy”, “liquidation”, “insolvency” and “surre
Q: What is the difference between “sequestration”, “bankruptcy”, “liquidation”, “insolvency” and “surrender of estate”? A:...
