Tag archives: Insolvent

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

By Patrick Bracher (ZA) on February 8, 2021 Posted in General

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. … Continue reading

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

By Riza Moosa on May 21, 2014 Posted in Banking

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. … Continue reading