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
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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
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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
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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
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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
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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,
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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
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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
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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
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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)
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