Obtaining an effective final order against the debtor

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Reference no: EM133398510

Case: The client ('C') is a local supplier of goods in your country. One of the client's customers, a local, privately owned, limited liability manufacturing company ('D'), has failed to pay a debt due to the client in the local currency, equivalent to R1000000.00, because of cash flow problems. The debt is more than 30 days overdue. There is no dispute regarding the underlying transaction that gave rise to the debt and the debtor has no valid defence for the non-payment of the debt.

The client now asks for your professional advice on the following in terms of the Insolvency Act 24 of 1936:

Question 1: Any action the client can take under the insolvency law of your country to deal with the apparent insolvency of the debtor.

Question 2: The process that will be involved in obtaining an effective final order against the debtor.

Reference no: EM133398510

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