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MRL3701 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE 13 May 2025
MRL3701 Assignment 2 (COMPLETE ANSWERS) Semester 1 2025 - DUE 13 May 2025
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,MRL3701 Assignment 2 (COMPLETE ANSWERS)Semester 1 2025 - DUE 13 May 2025; 100%
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explanations.
Kalebo approaches you for advice. He informs you that his
brother, Benson, owes him R24 000 for gardening services
rendered by his company. Dumisani explains to you that despite
various attempts to get Benson to pay his debts, he has yet to
make any payment. Dumisani is especially upset because he has
heard a rumor that Benson and his wife has apparently now
relocated their home from Johannesburg to Cape Town because
his wife is ill and needs medical treatment at a care facility in
Stellenbosch. Dumisani wants to know from you whether you
can assist him to apply for the complusory sequestration of
Benson’s estate, because his brother has fled from his home
and therefore his responsibilites. Refer to the relevant act of
insolvency, including a reference to the relevant legislation.
Kabelo's estate estate was sequestrated in 2005. His concurrent
creditors received no dividend and even had to pay
contributions. has not yet been rehabilitated. He has just won a
motorcar to the value of R150 000 in a competition. The trustee
of D’s insolvent estate has heard about his good fortune and
claims delivery of the car. Explain to whether he has to deliver
the car to the trustee or whether there is any possibility that he
could keep it for himself. With reference to impeachable
dispositions, discuss the difference between the trustee’s
powers under section 30 and section 29 of the Insolvency Act
, 24 of 1936. Kabelo's estate was sequestrated in 2021 and he
has not yet been rehabilitated. Dennis was appointed as the
trustee of the insolvent estate. The assets in Kabelo's estate
were insufficient to cover the sequestration costs. As a result,
all his creditors had to pay a contribution and the concurrent
creditors did not receive dividends. Kabelo recently won a
motor vehicle worth R200 000 in a competition which was run
by the Mall of South Africa. When Dennis heard of the news, he
claimed delivery of the car. Kabelo really likes the car and wants
to keep the car. Kabelo comes to you for advice. He wants to
know whether he has to deliver the car to the trustee or if there
are ways he could keep the car. By referring to relevant
legislation, advise Kabelo.
Let’s address each issue separately:
1. Can Dumisani apply for the compulsory sequestration of
Benson's estate?
In South African law, compulsory sequestration is governed by
the Insolvency Act 24 of 1936. For a court to grant an
application for compulsory sequestration, the applicant must
satisfy three key requirements:
1. Debt: There must be a claim against the debtor that
exceeds R100 (Section 9(1)).
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