Tag: Voluntary Sequestration Process South Africa

Voluntary Sequestration Process South Africa

Sequestration is a legal process by which you are declared insolvent by an Order in the High Court in terms whereof certain of your assets are handed over to a trustee, after which a Trustee (appointed by the Master of the High court) must according to the rules of the Insolvency Act, sell your assets. The proceeds of the sale of your assets are divided amongst creditors in a manner which is prescribed in the Insolvency Act.

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