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Freddie, One of my clients aaplied in May 2015. To date we

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Good day Freddie, One of...
Good day Freddie, One of my clients aaplied for Administration in May 2015. To date we neither received a copy of the court order nor have we received any distribution. I wrote a letter to the administrator, a copy of which i place here: Ons verw.: K1951
U verw.: ID 8403285049084 23 Oktober 2015 Mr D Ludick Attorneys*****Mountain View PRETORIA 0082 RE: U Administrasie – Petrus Jacobus BREYTENBACH ID 8403285049084 Ek bevestig dat ek optree namens Tiradeprops 84 (Pty) Ltd h/a Isidingo Financial
Services. U is aangestel as Administrateur in terme van artikel 74 van die Wet op Landdroshowe. Die volgende word onder u aandag gebring met meegaande versoeke. Die rede vir die versoeke is ter versekering daarvan dat die skuldenaar(s) hul verpligting in terme
van die administrasiebevel nakom. 1. In terme van die bepalings van artikel 74J(1) van die Wet op Landdroshowe is die administrateur verplig om ‘n distribusierekening wat voldoen aan die bepalings van Artikel 74J(5) te liasseer minstens elke drie maande vanaf
datum van die administrasiebevel. Die bevel is reeds verleen op 22 Mei 2007 en ontvang ons graag afskrifte van die distribusierekening soos geliasseer, binne sewe (7) dae. Indien geen distribusie rekening geliasseer is nie of indien distribusierekeninge nie
stiptelik elke drie maande gelewer is nie, word u vriendelik versoek om binne sewe (7) dae aan die bepalings van Artikel 74 in hierdie verband te voldoen en ons van afskrifte van die distribusie rekeninge te voorsien. Indien ons nie van u verneem nie, gaan
ons voort met ‘n aansoek soos bedoel in Artikel 74J (11). 2. Indien u geen betalings ontvang het nie of indien die skuldenaar(s) agterstallig is met betalings vir een maand of langer, ontvang ons graag binne sewe (7) dae ‘n afskrif van die geregistreerde aanmaning
soos bedoel in Artikel 74J(8). 3. Indien ‘n aanmaning ingevolge Artikel 74J(8) reeds gelewer is en betaling steeds nie ontvang word nie versoek ons u om onmiddelik aansoek te doen om tersydestelling van die administrasie op die eerste beskikbare verhoordatum
en ons te voorsien van ‘n afskrif en wel binne sewe (7) dae. 4. Ons ontvang graag ‘n uiteensetting van u kostes tot datum. Ons tender hiermee betaling van u koste verbonde aan die maak van kopieë in die bedrag van R3.50 per bladsy. Die uwe, ________________.
Marietjie von Prince (Direkteur) Vir Tiradeprops 84 (Pty) Ltd . I received the following answer today, 23/10/2015 Goeie dag Dit is wel so dat die aansoek in Mei vanjaar gebring is, maar die bevel is eers 04 Augustus 2015 toegestaan. Ons kostes word eers verhaal
waarna ons aan die krediteure sal verdeel. Hoop u vind dit in orde. Vriendelike groete Chantell du Plessis LUDICK PROKUREURS 558 DENEYSSEN LAAN MOUNTAIN VIEW PRETORIA 0082 TEL:(###) ###-####FAKS:(###) ###-####Is it true that we have to wait until the administrator
had been paid up front before we can expect any distributions? Do I misunderstand the Section 74J(12) which stipulates that payment shall be made to the creditors within 1 (one) month from lodging a distribuition account with the clerk of the court? Please
help me to understand this matter correctly. Best wishes, Marietjie von Prince
Submitted: 2 years ago.Category: South Africa Law
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Answered in 17 minutes by:
10/23/2015
Lawyer: Freddie Lombard, Attorney replied 2 years ago
Freddie Lombard
Freddie Lombard, Attorney
Category: South Africa Law
Satisfied Customers: 2,714
Experience: Practicing attorney and conveyancer with 16 years post article experience.
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Hi Marietjie

Thank you for your question. I will try to assist you in answering it today but please feel free to ask as many follow up questions as you like until you are 100% satisfied.

The administrator is indeed entitled to receive his fees first before staring with the distributions.

In terms of Section 74J(11) the administrator must lodge his first distribution account within one month and subsection 12 then obliges him to make payments within one month after lodgement of the distribution account.

You must remember however that he is only obliged to make payments in terms of the distribution account so if he is the only creditor listed to receive payments on such distribution account then the other creditors cannot demand that he pay them in terms of this section as he should only pay the creditors mentioned in the distribution account whatever amount are due to them in terms thereof.

In other words if there is not enough money received to pay the administrator and the remaining creditors, then only the administrator will receive payment.

I hope this answered your question.

I know it will take an extra minute of your time to rate my service, but if you do not rate it, I do not get paid by the website so I would really appreciate it if you would be so kind as to rate my service positively. Feel free to ask further question here on this topic at no extra cost if you need more information.

Regards

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