Difference between collusion, undue preference and voidable preference?............26
Dispositions in terms of s34 (voidable sales of a business or asset of a business) 26
Topic 5: Collection of the Estate Assets.
5.1 The preservation of the estate pending the appointment of a trustee.
The aim here is to preserve the estate until a trustee has been appointed.
, Section 17: Notice of sequestration order.
o Immediately after a sequestration order is granted.
o The registrar is obliged to transmit one original copy of the order to:
The Master
Who will then publish it in the Gazette.
The sheriff of every district in which the insolvent resides or
owns property
Every registrar of deeds
Every office having charge of an official register of ships
Every sheriff who is holding any of the debtors property under
attachment
o This to ensure that all interested parties are informed of the
sequestration of the estate and to prevent any improper dealings with
the insolvents property.
Section 19: Service of order and attachment of property.
o Service of order
The registrar of the court granting an order of final sequestration
must cause a copy of the order to be served on:
the insolvent and the spouse of the insolvent
And file with the master the sheriff’s return of service.
On being served with the order:
The insolvent is obliged to hand over to the sheriff all
records relating to his affairs
And lodge with the master a statement of his affairs
The solvent spouse who is served with a sequestration
order must also lodge her statement of affairs with the
master.
o Attachment of property
The sheriff is required to attach and make an inventory of the
movable property of the estate
The sheriff need take great care when executing this duty
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kaylalivesey. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.76. You're not tied to anything after your purchase.