Beware! Lawyers at work

Beware! Lawyers at work

Could the law society, the liquidators and the Master have all missed the important issue? Creditors are the people that the whole institution of insolvency is all about: the South African insolvency system is typified as a “creditor driven” insolvency system. It is the creditors who appoint the final liquidators.The creditors are also members of the company who are vitally interested in the proceeds of the liquidation – or, should one say, the bare bones that are left once the predators have had their fill.

Clearly nothing much has changed at the Cape Law Society in 15 years.

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Rights Of Creditors
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Submitted by : Govan Naidoo of QUEENSBURGH on 2012-08-01 10:56:29
Anybody aware of similarities with the KZN Law Society


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