To sequestrate or not to sequestrate in view of the National Credit Act 34 of 2005: A tale of two judgements

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dc.contributor.author Boraine, Andre
dc.contributor.author Van Heerden, Corlia
dc.date.accessioned 2011-03-30T09:51:21Z
dc.date.available 2011-03-30T09:51:21Z
dc.date.issued 2010
dc.identifier.citation Boraine, A. & Van Heerden, C. 2010. To sequestrate or not to sequestrate in view of the National Credit Act 34 of 2005: A tale of two judgements. Potchefstroom electronic law journal (PELJ) = Potchefstroomse elektroniese regsblad (PER), 13(3):84-124 [http://www.nwu.ac.za/p-per/index.html] en
dc.identifier.issn 1727-3781
dc.identifier.uri http://hdl.handle.net/10394/4051
dc.description.abstract The purpose of this article is to consider the impact of some of the provisions of the National Credit Act1 (the NCA) on sequestration applications in the form of applications for voluntary surrender, as well as compulsory sequestration. This matter is of particular relevance in view of two recent cases: in Ex parte Ford2 the court refused to grant a sequestration order following an application for voluntary surrender since the applicant-debtors did not, according to the court, avail themselves adequately of debt relief measures provided for by the NCA where the bulk of the debt consisted of credit agreements regulated by the NCA; and in a more recent judgment, Investec Bank Ltd v Mutemeri,3 the respondent-debtors, namely the consumers, opposed an application for compulsory sequestration on the basis that the application for debt restructuring pursuant to debt review in terms of the NCA barred the applicant from proceeding with the application for compulsory sequestration, since they argued that such an application amounted to debt enforcement. This discussion therefore considers the impact of the debt relief remedies and certain special provisions that apply to debt enforcement in terms of the NCA on sequestration procedures provided for in the Insolvency Act4 in view of the above judgments. en
dc.language.iso en en
dc.publisher North-West University (Potchefstroom Campus), Faculty of Law en
dc.subject Advantage of creditors en
dc.subject Civil suit en
dc.subject Compulsory sequestration en
dc.subject Concursus creditorum en
dc.subject Credit agreements en
dc.subject Debt counsellor en
dc.subject Debt nforcement en
dc.subject Debt relief measures en
dc.subject Debt restructuring en
dc.subject Debt review en
dc.subject Discretion of court; National Credit Act en
dc.subject NCA en
dc.subject Reckless credit en
dc.subject Section 129 notice en
dc.subject Sequestration en
dc.subject Sequestration applications en
dc.subject Sequestration proceedings en
dc.subject Voluntary surrender en
dc.title To sequestrate or not to sequestrate in view of the National Credit Act 34 of 2005: A tale of two judgements en
dc.type Article en

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