Health Squared’s liquidators call for submission of claims
The claim form, together with supporting documentation, must be delivered to the liquidators’ office in Pretoria.
Liquidation
Director’s passport blocked amid efforts to recover Classic’s assets
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.
PA and Sarb apply for the final liquidation of Habib Overseas Bank
The curator finds there are no reasonable prospects that the bank can be rehabilitated as a going concern.
Easier winding-up process for retirement funds that decide to go into liquidation
FSCA implements notice exempting funds from certain qualifying criteria in Board Notice 75.
Proposal to make it easier and cheaper to wind up retirement funds that decide to go into liquidation
The exemption does away with the R50 000 average-benefit-per-member threshold and caps the membership threshold at 100.
Supreme Court of Appeal rejects bid to overturn insurers’ liquidation
Did section 54(5) of the Insurance Act and the provisional curatorship orders preclude the final liquidation orders?
Bid to challenge the liquidation of transport provident fund fails
Whistleblower asserts that members’ money was stolen, although a forensic investigation found no evidence of this.
Constantia Insurance goes into final liquidation
The High Court in Johannesburg has placed Constantia Insurance Company Limited (CICL) in final liquidation after granting the urgent application brought by the Prudential Authority (PA) and the short-term insurer’s curator at the […]
Constantia’s policyholders with claims will have to join the queue of creditors if the insurer is liquidated
Policyholders of Constantia Insurance Company Limited (CICL) who have outstanding claims will have to join the queue of creditors if the application to have the insurer liquidated is granted. Last week, the provisional […]
Why FSCA’s liquidation exemption stands despite conflicting with Board Notice
The Financial Services Tribunal (FST) has dismissed an application by an umbrella fund member who was aggrieved by the FSCA’s decision to exempt the fund from the full liquidation requirements in the Pension […]
Jump in retirement fund liquidation applications in 2020
The number of retirement funds applying for liquidation increased by 21.5% between 2019 and 2020 because of financial distress as members’ contributions fell when employers cut salaries or laid-off staff and businesses closed […]
FSCA reports on investigation into Mirror Trading International (Pty) Ltd
On Tuesday, 19 January 2021, the FSCA announced that it has finalised its investigation into Mirror Trading International (Pty) Ltd (MTI) and will share its report with the liquidators appointed by the Master […]
FSCA reports on investigation into Mirror Trading International (Pty) Ltd
On Tuesday, 19 January 2021, the FSCA announced that it has finalised its investigation into Mirror Trading International (Pty) Ltd (MTI) and will share its report with the liquidators appointed by the Master […]
SaXum Liquidation Update
The short-term insurance industry, through the South African Insurance Association (SAIA), has established a limited voluntary fund (SAIA Fund) to try and alleviate the prejudice suffered by those policyholders with motor accident claims […]
Liquidation of Saxum Insurance
On Friday, 28 October 2016, the FSB published a five page document to inform policyholders of the liquidated insurer and how this will affect them. Whilst most of the questions and answers deal […]
Liquidation of SaXum Insurance
The Registrar of Short-term Insurance’s application to place SaXum Insurance Limited under final liquidation, was granted. The Court ordered that SaXum be placed under liquidation for final winding-up in the hands of the […]
Application for Liquidation of Saxum Insurance
Should the FSB’s application be upheld, and this order is granted and made final, it will effectively mean that that any policyholder with a current claim will become a concurrent creditor of the […]
