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Summary Law of insolvency: Effect of sequestration on solvent spouse
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Comprehensive notes summarised from Hockly's Insolvency Law 9th edition textbook.
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Law of Insolvency: Compulsory Sequestration
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1Topic 5: The effect of sequestration on the solvent spouse
Relevant parties in this scenario
- Insolvent spouse: X
- Solvent spouse: L
- Trustee: T
- Master: M
NB: X and L are married out of community of property
Introduction
S21 of Insolvency Act was inserted to
De Villiers v Delta Cables case held
- S21 was inserted to prevent, or hamper, collusion (fraud) between spouses to the detriment of
creditors of the insolvent estate
- In particular, it was inserted to make it difficult for an insolvent and his spouse to deprive the
estate of assets to which it is entitled by pretending that they are the separate property of the
solvent spouse
- Thus s21 was inserted to stop such practices between spouses who were married out of
community of property
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