
Now Creditors Can Apply for Directors to be Declared Delinquent – Why is That Important?
“He who is quick to borrow is slow to pay” (Old proverb) A recent High Court decision means that, for the first time, creditors of
Read More
Debt Collection – Two Recovery Options
“Creditors have better memories than debtors” (Benjamin Franklin) How well you manage your debtors’ book, and how successful you are in actually collecting monies due
Read More
Don’t Give a Loan or Credit to Anyone (Not Even a Friend) Without Legal Advice!
“The requirement that credit providers must be registered allows for their control and regulation, especially in relation to their financial probity and integrity, thereby avoiding
Read More
Creditors: How to Secure Your Claim with a Notarial Bond
You should always take as much security for your claims as you possibly can before advancing credit or lending money to a debtor. That’s because
Read More
It’s Not Simple to Sell a House in Execution (Even if a Trust Owns It)
“A court shall not authorise execution against immovable property which is the primary residence of a judgment debtor unless the court having considered all relevant
Read More
Directors – When Are They Personally Liable?
“… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly,
Read More
The Trouble with Family Loans: A R540,000 Lesson
“How sharper than a serpent’s tooth it is to have a thankless child!” (Shakespeare) “Family helps family in times of need” – that’s been part
Read More
Debtor Not Paying? Consider a Liquidation Application
“When debtors once have borrowed all we have to lend, they are very apt to grow shy of their creditors’ company” (John Vanbrugh) Bad debt
Read More
Bodies Corporate: Before You Sequestrate to Recover Arrears…
“Bankruptcy – a fate worse than debt” (Anon) One of a Body Corporate’s fundamental duties is to collect monthly levies from the scheme’s members, and
Read More
Suing a Debtor – Make Sure Your Victory Isn’t a Hollow One
“Pyrrhic victory”, n. A very costly victory, wherein the considerable losses outweigh the gain, so as to render the struggle not worth the cost (Wiktionary)
Read More