General Provisions Relating to Meetings Quiz

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What is the responsibility of the trustee in relation to convening meetings?

Recording and keeping all proceedings

Accepting or rejecting claims

Convening the first meeting and all subsequent meetings (correct)

Determining the time and date of all meetings

What must be lodged when proving a claim against the estate?

Proof of address

Bank statements

Affidavit setting out the nature and basis of the claim, supporting vouchers, and lodged less than 24 hours before the meeting (correct)

Personal identification documents

What is required to participate in meetings as a creditor?

Proving all claims before attending any meeting

Being in public service or designated by the master

Registering and paying a fee of R25 to the trustee (correct)

Being personally present during all meetings

What happens if a claim cannot be reasonably explained during interrogation?

It may be rejected Signup and view all the answers

Who may examine proof of claims in relation to the estate?

Trustee, insolvent, or creditors Signup and view all the answers

When should the documents for proving a claim be lodged according to Section 44 of the Act?

Within 24 hours before the meeting Signup and view all the answers

What is considered privileged information disclosed at the meetings?

Claims being proved against the estate Signup and view all the answers

What are the details that the provisional trustee must ensure correct in the sequestration order?

Insolvent's full names, date of birth, identity number, and marital status Signup and view all the answers

What authority does the provisional trustee require to bring or defend legal proceedings?

Court's consent Signup and view all the answers

What is the consequence of selling estate property without prior authorization?

The sale is void and cannot be ratified Signup and view all the answers

Under what circumstances can a provisional trustee sell estate property?

Only with the authority of the Master or the court after notice and conditions Signup and view all the answers

What power does the Master have over the provisional trustee according to Section 18(2)?

To issue directions as if given by creditors at a meeting Signup and view all the answers

What is the primary function of a provisional trustee in an insolvent estate?

Preserve the estate for creditors pending the appointment of a trustee Signup and view all the answers

Under what circumstances will the court authorize a provisional trustee to institute legal proceedings or sell property?

If there is urgency and the claim is prima facie enforceable Signup and view all the answers

What must an applicant seeking court authority in terms of Section 18(3) demonstrate?

A departure from normal procedures is warranted Signup and view all the answers

According to Van Oosten J, what criteria must be satisfied when contemplating the institution of proceedings to enforce a claim?

Urgency, enforceability, and creditor non-prejudice Signup and view all the answers

In Warricker & another NNO v Liberty Life Association of Africa Ltd, why must an applicant satisfy the court before instituting legal proceedings?

To show good cause for a departure from normal procedures Signup and view all the answers

General Provisions Relating to Meetings Quiz

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