It’s ‘business as usual’ for debarred director of Classic Financial Services
A provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
Read moreA provisional sequestration order for the estate of Classic Financial Services director Jacobus Geldenhuis has been granted.
Numerous individuals have been subpoenaed to appear before the Master of the High Court, to be questioned about the affairs of the sequestrated trust.
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
When faced with a bad debtor, establish whether the contractual relationship is a specific contract and/or a standard terms and conditions contract.
The administration process of the insolvent estate of Classic Financial Services has yielded ‘numerous assets’, providing a glimmer of hope for creditors.
The claim form, together with supporting documentation, must be delivered to the liquidators’ office in Pretoria.
Claim documents have been sent to creditors as the provisional liquidators take steps to recover assets and secure funds held in the name of Classic Financial Services One.
The curator finds there are no reasonable prospects that the bank can be rehabilitated as a going concern.
FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.
The exemption does away with the R50 000 average-benefit-per-member threshold and caps the membership threshold at 100.
Did section 54(5) of the Insurance Act and the provisional curatorship orders preclude the final liquidation orders?
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
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