n Without Prejudice - A problem worth admiring : insolvency law
|Article Title||A problem worth admiring : insolvency law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Mike McLaren and Lithemba Velleman|
|Publication Date||Oct 2007|
|Pages||61 - 62|
In almost every property financing transaction where lenders advance money (facility), they will, inter alia, secure the borrower's payment obligations to them by registering a mortgage bond in their favour over the borrower's immovable property. In these circumstances, it is necessary to consider the potentially hazardous consequences that s88 of the Insolvency Act could have to the lenders' security under the mortgage bond.
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