5 Questions
Which act is regarded as the principle source of South African insolvency law?
The Insolvency Act of 1936
In South African insolvency law, what is the ultimate debt relief for over-indebted consumer debtors?
Sequestration followed by rehabilitation
What system of debt review was introduced by the National Credit Act of 2005?
Debt review conducted by a debt counsellor
What regulates the situation where a debtor cannot pay his debts or where his total liabilities exceed all his assets?
The Insolvency Act of 1936
Apart from sequestration, what alternative debt relief measures are available outside sequestration in South Africa?
Administration at a magistrate’s court
Learn about the primary sources of insolvency law in South Africa, including the Insolvency Act, the Companies Act, the Close Corporations Act, and common law derived from Roman-Dutch sources and court judgments.
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