MRL3701 Assignment 1 (COMPLETE ANSWERS) Semester 1 2025 - DUE 25 March 2025; 100% TRUSTED Complete, trusted solutions and explanations. For assistance, Whats-App 0.6.7-1.7.1-1.7.3.9. Ensure your success with us... Maria approaches you for advice. He informs you that his brother, Eric, owes him R2...
For Maria to succeed in her application, she must satisfy the court that she has locus standi,
that Thabo has committed an act of insolvency or is factually insolvent, and that sequestration
will be to the advantage of the creditors.
Maria’s Locus Standi as a Creditor
Section 9(1) of the Insolvency Act 24 of 1936 provides that a creditor with a liquidated claim
exceeding R100.00 is entitled to apply for the sequestration of a debtor’s estate. In this case,
Maria is owed R320,000, which is a liquidated claim as it is a fixed and determinable sum of
money arising from an agreement that became due on 5 January 2025. Since the debt was
due and payable, but Thabo failed to settle it, Maria qualifies as a creditor with standing to
bring the sequestration application. Terms of use
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