Name: Mamokete Mofokeng

Student ID: ST10119399

Module: Law of Insolvency [LAIN6311]

Task: Take Home Exam

Date: 24 June 2022

Question 1.

Q.1.1

Q.1.2 The insolvent may file personal lawsuits for the following reasons: status-
related issues, issues that don't affect the insolvent estate, claims for unpaid wages, pe
nsion claims, delictual lawsuits for defamation and personal damage, and offenses com
mitted by the insolvent after sequestration.

Q.1.3

Q.1.3.1 d).

Q.1.3.2 d).

Q.1.4 The three types of creditors are:

 Secured creditors, who hold security over an asset of insolvent which provides
him a claim in regards to the asset’s net proceeds. An example of this types of
creditor would be a holder of a mortgage bond.
 Preferred creditors, who do not hold security over an assets but are entitled to
proceeds of the estate assets in preference over other unsecured creditors. An
example of a preferred creditor would be employees.
 Concurrent creditors, who do not have security for their claims and are not
entitled to payment of the proceeds. They rely on the balance of the residue in
the insolvent estate after all preference creditors and all other costs have been
paid. An example of a concurrent creditor is