n Local Government Bulletin - From the courts : settling municipal debts preference in the case of insolvency




Extracted from text ... LOCAL GOVERNMENT BULLETIN 18 Settling municipal debts PREFERENCE IN THE CASE OF INSOLVENCY From the COURTS City of Johannesburg v Kaplan NO [2006] SCA 45 (RSA) (unreported) Issue At issue was the interpretation of section 118(2), which subjects the provisions of section 118 as a whole to section 89 of the Insolvency Act. The First Respondent was the liquidator of Krokipark CC, which had been wound up and was the registered owner of an immovable property. The Second Respondent, First National Mortgages Nominees (Pty) Ltd. (First National), was the holder of a participation mortgage bond over the immovable property. The ..


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