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Insolvency Law (MRL3701) ASSIGNMENT 2 SOLUTIONS - SEMESTER 1, 2023
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Insolvency Law Assignment 2 solutions.
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INSOLVENCY LAWMRL3701
SEMESTER 1
ASSIGNMENT 2 - MEMO
2023
, You are a candidate attorney at a law firm in the process of consulting a client,
Mr. Masuku. He informs you that he bought a vehicle from one Mr. Havenga,
who makes a living by buying and selling second hand cars. He further informs
you that the trustee of Mr. Havenga however approached him (Mr. Masuku), took
back the vehicle that he bought from Mr. Havenga and informed him that he is
claiming the vehicle under section 29 of the Insolvency Act 24 of 1936. Mr.
Masuku now seeks your advice on how to get the vehicle back.
During your research, you find that dispositions which may be set aside, include
those not made for value, voidable preferences, undue preferences, collusive
dealings, and those made in fraud of creditors.
1. Which of the dispositions above may be set aside in terms of the common law, and
what is the relevant action that may be used to set the disposition aside? (2)
The right under the common law to have the disposition set aside is in fraudem
creditorum (fraud of creditors). The action at common law is the actio Pauliana.
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