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Tag Archives: Insolvency Act

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First meeting of creditors in relation to S40(1) of The Insolvency Act

Articles, CPD, DevelopBy MarcelleNovember 1, 2013

“There appears to be limited authority on the interpretation of section 40(1); therefore it seems that the correct legal position at present is that found in this case.” Section 40(1) of the Insolvency Act, 1936 (Act 24 of 1936) (the Act) provides that the Master shall immediately convene a first meeting of the creditors of…

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