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Provisional sequestration ordered over maintenance failings

By Daily News Published on Monday, 26 July 2021
Tags: #Insolvency Law #Litigation
The Gauteng High Court (Pretoria) has ordered a provisional sequestration of a man who owes more than R500k in arrears maintenance to his former wife.

Bosasa liquidators want ANC to pay back millions

By Daily News Published on Tuesday, 13 July 2021
Tags: #Insolvency Law #Litigation
The ANC has been slapped with a summons to repay more than R3.6m it received from corruption-accused company Bosasa in the run-up to the 2014 national elections.

Bodies Corporate: Before You Sequestrate to Recover Arrears

By Ashersons Attorneys Published on Monday, 05 July 2021
Tags: #Insolvency Law #Litigation
One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and to take robust action to recover any arrears. As with any other creditor/debtor relationship however, trying to recover debt can be an exercise in frustration and delay, and the more recalcitrant the debtor, the greater the temptation to “go straight for the jugular” by applying to sequestrate the debtor’s estate.

Bitcoin scheme MTI placed in liquidation

By Daily News Published on Friday, 02 July 2021
Tags: #Banking & Finance Law #Insolvency Law #Litigation
Collapsed bitcoin scheme Mirror Trading International (MTI) was placed in final liquidation this week by the Western Cape High Court, according to Moneyweb.

High-risk cryptocurrency scheme to be liquidated

By Daily News Published on Thursday, 17 June 2021
Tags: #Insolvency Law #Litigation
The Eastern Cape High Court (East London) has ruled that the Rawlins Trust, which received about R300m from 991 individuals to invest in high-risk cryptocurrency – and reportedly lost up to R120m in the process – must be finally sequestrated.

Failed crypto scam details revealed in court papers

By Daily News Published on Wednesday, 09 June 2021
Tags: #Insolvency Law
Court papers filed by the liquidators for failed crypto scam Mirror Trading International (MTI) lift the curtain on one of the most extraordinary investment rip-offs in SA’s history, according to a Moneyweb report.

Allegations of fraud and mismanagement at DearSA

By Daily News Published on Monday, 31 May 2021
Tags: #Insolvency Law #Litigation
DearSA, an NGO formed to facilitate public participation in the legislature and policy making, has been rocked by allegations of fraud and mismanagement.

Local group tackles Walmart-controlled company

By Daily News Published on Monday, 31 May 2021
Tags: #Insolvency Law #Litigation
A black-owned supermarket group that has gone out of business has accused a Walmart-controlled company of crippling its once profitable operations.

Steinhoff says liquidation bid set for September

By Daily News Published on Thursday, 27 May 2021
Tags: #Insolvency Law #Litigation
The Western Cape High Court will only consider a bid to liquidate Steinhoff in September, the beleaguered company said in a statement yesterday, according to Fin24.

Guptas-owned Oakbay loses BRP appeal bid

By Daily News Published on Monday, 24 May 2021
Tags: #Insolvency Law #Litigation
The SCA on Friday rejected an attempt by Gupta-owned Oakbay Investments to have the business rescue practitioners (BRPs) of another of the family's companies, Tegeta, removed.

Assets seized in AFU swoop on investment firm

By Daily News Published on Friday, 21 May 2021
Tags: #Business & Industry Law #Insolvency Law
Five aircraft, one car and 11 pieces of land were seized yesterday as the Asset Forfeiture Unit (AFU) in KZN swooped on an investment firm. The KZN High Court (Pietermaritzburg) granted the AFU a forfeiture order for the vehicles and property, worth R106m, against Coinit Trading and other liquidated entities, says a TimesLIVE report.

PIC inquiry into Musa Group postponed indefinitely

By Daily News Published on Thursday, 20 May 2021
Tags: #Insolvency Law #Litigation
An inquiry funded by the Public Investment Corporation (PIC) to get to the bottom of a costly tie-up with a firm set up by two Americans has been indefinitely postponed, raising fears the fund may never find out what happened to the nearly R1bn loan advanced to the private equity outfit.

Tekkie Town owners seek to liquidate Steinhoff

By Daily News Published on Thursday, 13 May 2021
Tags: #Business & Industry Law #Insolvency Law #Litigation
The former owners of Tekkie Town, which was acquired by Steinhoff in 2016, launched an application in the Western Cape High Court yesterday to liquidate the company.

Survé entities facing PIC legal action blizzard

By Daily News Published on Thursday, 13 May 2021
Tags: #Insolvency Law #Litigation
Entities directly or indirectly controlled by businessman Iqbal Survé, who claims his companies are being discriminated against because they are black-owned, are facing a blizzard of legal proceedings launched by the Public Investment Corporation (PIC) to recover millions of rands in overdue loan repayments to the state-owned asset manager.

Former banker accepts Steinhoff 29c in rand deal

By Daily News Published on Wednesday, 12 May 2021
Tags: #Insolvency Law #Litigation
Former banker GT Ferreira is the latest Steinhoff claimant who is willing to accept 29c in the rand for his damages claim, Die Burger reports.

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