Legal Articles and Guides
Kleuterzone liquidators file urgent court application
The joint provisional liquidators of the Kleuterzone group of schools have approached the Western Cape High Court (Cape Town) for urgent relief to prevent Ludus Holdings from restructuring, disposing of, or interfering with several nursery and pre-primary schools previously operated within the group, according to Moneyweb.
SARS secures R155m provisional sequestration order
The SARS has secured a provisional sequestration order against a taxpayer for R155m for tax non-compliance. The order allows SARS to seize assets of an individual taxpayer to cover their tax bill.
SARS wins sequestration order against tobacco importer
SARS has won an order provisionally placing the assets of a tobacco importer under court control after it accused him of owing R188m in income and customs tax debts, reports News24.
Lawyer blames estate agent for sequestration threat
Durban attorney Ahmed Amod remains adamant that he has done nothing wrong regarding a dubious property scheme which is now the subject of litigation that could see his sequestration.
SARS, lawyers take bitcoin Ponzi scheme cut
Liquidators of Mirror Trading International (MTI) have managed to recover more than R1bn, but faced a claim of R931m from SARS.
Liebenberg's assets still being auctioned
Just days after millions of rands worth of mining equipment went under the hammer, seven properties linked to Louis Liebenberg will go on auction as the pieces of his diamond empire continue to be sold off.
More assets seized from Jooste estate
The SARB has seized five cars – including a Mercedes-Benz SL600 – as well as jewellery and paintings worth around R795 400 from the executor of the estate of the late Steinhoff boss Markus Jooste, News24 reports.
Liebenberg’s assets to go under the hammer
Millions of rands worth of assets linked to alleged diamond conman Louis Liebenberg are set to go under the hammer this week as the business empire he built up over more than a decade is sold off in a series of auctions, reports News24.
KZN attorney in limbo as property dispute stalls
Durban attorney Ahmed Amod, who is accused of being complicit in a fraudulent property scheme, remains provisionally sequestrated, with the matter only set to return to court early next year.
More than 1 000 SA businesses fold
The latest liquidation statistics show that SA has surpassed the 1 000 threshold in terms of business closures this year, with August contributing another 127 liquidations to the total.
Investors on track with NTC Global Trade liquidation
After two failed attempted to liquidate trading and investment platform NTC Global Trade, investors who claim the company is a Ponzi scheme last week succeeded in their third attempt.
Court orders provisional winding up of M&R Holdings
Murray & Roberts Holdings has been placed into provisional liquidation, following a court order.
Banxso placed in provisional liquidation
The Western Cape High Court has ruled that Banxso should be placed into provisional liquidation, reports News24.
Sequestrated businessman addresses ruling
Businessman Nicky van der Walt has broken his silence amid his legal battle over R3.3m debt.
Only 10% of VBS depositors not repaid
The Prudential Authority (PA) has revealed only 10% of depositors who had deposited funds into VBS Mutual Bank in excess of R100 000 are now waiting in line to be repaid from any funds the liquidator has been able to recover from selling off VBS assets or recouping outstanding loan payments.
