South Africa Law

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South Africa Law
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We have emigrated to Australia after my husiness failed, and

We have emigrated to Australia...

We have emigrated to Australia after my husiness failed, and my husband lost his job. We cannot meet any of our obligations in South Africa and want to apply for sequestration. We paid an attorney to do this for us, but we had to lie on the affidavits we were still in the country at time of signature. This was too big a risk for us and we lost the last bit of cash we had. Please confirm if you can apply for sequestration from outside the borders of SA. We emigrated 5 months ago.


Total outstanding debt is about R400k on my husbands estate and R300k on my estate


We are married by ANC in 2007


My business failed, and we got into a lot of debt funding the cashflow shortages (real estate agency) because we thought it was a short term problem.


Then my husband lost his job and we had no income


We sold our house, and paid to emigrate to Australia in Jan 2013


Neither of us could find work in South Africa, his salary here covers our expenses and we have about R4000 a month which we could pay over, but its not a drop in the ocean to the R66000 they want.


We moved with a boat which we could not get sold.


Our liquidated estate includes a vehicle which has been repossessed by the bank (wesbank) in my husbands estate


We will find the cash to sequestrate by cash.


Thanks

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Answered in 47 minutes by:
8/20/2013
JJ
JJ, Attorney
Category: South Africa Law
Satisfied Customers: 4,502
Experience: Admitted Attorney 17 years experience
Verified

Hi

Welcome to Just Answer!! Thank you for giving me the opportunity to assist you.

What is the value of total assets? Do you intend to retunr to SA?

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Customer reply replied 4 years ago


Hi


Total value of our assets, we have only the boat (already in Australia) valued at R50,000 by the previous attorneys, and furniture of maybe R25,000


no we don't intend returning to SA


we will pay in a cash benefit to sequestrate.


Thanks

Hi Zina

Hier is twee probleme.

Julle sal ongelukkig eers moet terugkeer na SA en kan onder eed verklaar dat julle hioer gedomisileerd is. Indien julle dit nie kan doen nie, het julle nie locus standi nie en kan die aansoek nie gebring word nie. Die volgende probleem is dat daar geen voordeel vir die krediteure is om julle te laat sekwestreer nie en sal die hof dit nie toestaan nie.

Verdermeer, gesien in die lig daarvan dat julle nie van plan is om terug te keer om hier julle lewe voort te sit nie sal dit julle glad nie affekteer nie. Die krediteure sal nie hulle na Australië wend om die skuld te verhaal nie aangesien dit nie die kostes werd sal wees nie.

Ek dink julle sal maar moet die besluit neem om die aangeleentheid daar te laat.

JJ
JJ, Attorney
Category: South Africa Law
Satisfied Customers: 4,502
Experience: Admitted Attorney 17 years experience
Verified
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JJ
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Satisfied Customers: 4,502
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