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E-Mail |
Marketing Department |
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OR use this
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Western Cape |
1st Floor Meulplein Building
Mill Street, Stellenbosch
Tel: (021) 887 9992
Fax: (021) 887 9993
P O Box 820
Stellenbosch, 7599 |
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Gauteng |
367 Oak Ave, Ferndale, Randburg
Tel: (011) 285-2300
Fax: (011) 285-2319
PO Box 1935
Randburg, 2125 |
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ALL documents
are in (.PDF, Adobe Portable Document Format files).
Click the link below OR right click the link
and select Save Target As... to save the .PDF file to
your PC for later reading.
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Creditors should provide all relevant information relating
to irregularities and/or hidden assets to the provisional
liquidator at the outset of any matter. The Insolvency Act
(24 of 1936) and Companies Act (61 of 1973) provide useful
mechanisms to gather information about dubious transactions
and “hidden assets”. These mechanisms are known as
enquiries. Enquiries are normally expensive to conduct and
where there are no assets and consequently no funds in the
insolvent estate or liquidated company, creditors who wish
for such an enquiry to take place will have to fund it
initially. However should assets or money be recovered as a
result of such enquiry, those creditors who funded the
enquiry will recover the incurred legal costs. In certain
instances they may also be the only creditors entitled to
share in the proceeds recovered as a result of the enquiry
and subsequent actions instituted and funded by them.
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