MRL3701 ASSIGNMENT 2 MEMO - SEMESTER 1 - 2024 UNISA – DUE DATE: - 9 APRIL 2024 (DETAILED ANSWERS WITH FOOTNOTES AND A BIBLIOGRAPHY - DISTINCTION GUARANTEED!)
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Course
Insolvency law
Institution
University Of South Africa (Unisa)
Book
Hockly\'s Insolvency Law
MRL3701 ASSIGNMENT 2 MEMO - SEMESTER 1 - 2024 UNISA – DUE DATE: - 9 APRIL 2024 (DETAILED ANSWERS WITH FOOTNOTES AND A BIBLIOGRAPHY - DISTINCTION GUARANTEED!)
Assessment 02:
Question 1: (10 marks)
Wandile owes a total of R3 million to various creditors. His creditors include Zozo to
whom he ...
Wandile owes a total of R3 million to various creditors. His creditors include Zozo to whom he owes R400
000. He also owes R1,3 million to DRG Bank. Last year Wandile invested in a get-rich-quick scheme as a
result of which he lost a lot of money. This left him in a dire financial situation. By 31 October 2023 his
liabilities exceeded his assets by R800 000. Over the past few months Wandile has failed to pay some of
his debts. In particular he failed to pay the R400 000 he owes to Zozo. This debt was due and payable on 1
February 2024. Disappointed at not having been paid back the R400 000 owed to her, Zozo undertook an
investigation into Wandile’s financial situation. The investigation turned up unassailable proof that
Simphiwe had owed R100 000 to his father-in-law, and that Simphiwe repaid R80 000 to his father-in-law
on 3 February 2024….. QUESTION CONTINUES…
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