n Lesotho Law Journal - Abuse of the requirement of publication of notice in applications for voluntary surrender : a look at Letitia Ndema v ABSA & Others and related cases : notes & comments
|Article Title||Abuse of the requirement of publication of notice in applications for voluntary surrender : a look at Letitia Ndema v ABSA & Others and related cases : notes & comments|
|© Publisher:||National University of Lesotho|
|Journal||Lesotho Law Journal|
|Affiliations||1 National University of Lesotho|
|Publication Date||Jan 2015|
|Pages||151 - 159|
One of the preliminary procedural formalities to be fulfilled by an applicant for voluntary surrender as stipulated in section 4(1) of the Insolvency Proclamation of 1957 is publication of a notice of intention to apply for surrender. Such publication must be made in the government gazette and newspapers in the district in which the applicant debtor resides or carries on business. The period of publication must be not more than 30 days and not less than 14 days from the date of hearing of the application as stated in the notice. The notice may be withdrawn after the debtor has applied to the Master for his consent which must be given in writing. In terms of section 7, a valid withdrawal is one made with the consent of the Master followed by publication of a notice of withdrawal in the government gazette. The substantive requirement for a valid withdrawal is that the publication of notice of surrender must have been made in good faith and the withdrawal must be for a good reason.
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