Archive for Jul 2013

BONDHOLDERS – CAN YOUR DEBTOR DELAY LIQUIDATION?

Debtors faced with liquidation often ask their creditors for time to realise their assets “to best advantage” rather than by “forced sale”. But per a recent High Court decision, creditors are not obliged to wait. A property-owning company, defending itself against a liquidation application brought by the bondholder, was found to be “commercially insolvent” but…

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INSURANCE: THE RISK OF NOT REPORTING

Having your insurance claim repudiated is particularly galling if you’ve been meticulously paying out hefty premiums for years. But take care to comply strictly with all the terms and conditions of your policy contract – not doing so can cost you dearly.  R600k down for not reporting  Take for example the recent and widely-reported case of…

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