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Life policy proceeds due to insolvent must be paid to their trustees

Photo of Patrick Bracher (ZA)
By Patrick Bracher (ZA) on February 8, 2021

Where an unrehabilitated insolvent was the beneficiary of the proceeds of a life policy taken out on the life of his wife, and the couple’s joint estate had been sequestrated, it was held that the proceeds of the policy were payable to the trustees of the insolvent estate and not to the insolvent surviving husband.…

Posted in General

Solvent and insolvent winding up of companies – what is “solvent”?

Photo of Riza Moosa
By Riza Moosa on May 21, 2014

Certain sections of the 1973 Companies Act still apply to the winding up and liquidation of companies by virtue of the transitional arrangements in schedule 5 to the 2008 Companies Act. The main distinction on whether or not the 1973 Act or the 2008 Act applies centres around whether or not the company is solvent.…

Posted in Banking

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Norton Rose Fulbright’s financial institutions team provides straightforward legal updates. Our lawyers offer local insights with an international perspective recognised worldwide. This blog focuses on the South African market and is about sharing knowledge with you. Blog posts are not legal advice.

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