oa De Rebus - Section 156 of the Insolvency Act : a third party's forgotten remedy? : practice note
|Article Title||Section 156 of the Insolvency Act : a third party's forgotten remedy? : practice note|
|© Publisher:||Law Society of South Africa|
|Publication Date||Jan 2015|
|Pages||27 - 28|
The principle of subrogation is well established in South African law and allows an insurance company to litigate under the name of the insured for the recovery of damages incurred. Any judgment obtained for, or against, the insured is thereafter settled by the insurance company, subject to the terms and conditions of the agreement of insurance entered into between the parties.
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