FACUI.TY ..!

I,'STICE TRAI IqE NG C ENdTRE

DEPARTfulENT J USTICE TRAI E\,!Iil.! G CE ilSTR E

SUBJECT PRACTICE OF INSOI-VENCY & TR.USTS

DATE 16 NOVEfuIBER 2O?2

DURATIONJ TIIREE iiO{JF.S ilJIARKS xs0

FE h.!AL EHAM I NNATIO il{S

Examiner: KAIJATA KAn,lGUEELII

M oderaio r: ADV. l-,i ETT! E GARB E RS- Kt RST'E il,J

This question paper ccnsists of FOUR. pages and FIVE questions.

lnstructians
'l.Answer all questions.
2.Refer to ease law throughoult.
4.Under!ine you r a uthoritles.
5. Oi'ganize yout' answers pnoperiy.
6. Be guided by the rnarks allocated per question.
 [30]
Dalsy is an adult Namibian residing at No 3i, Alwyn Street, Suiderhof She is
employed as a Saleslady at Edgars Windhoek at No 10, Independence Avenue,
Windhoek, Namibia.

On 12th )uly 2022 she entered into a loan transaction in terms of which First Naticnal
Bank (Pty) Ltd (the Bank) lent to her NS20,000.00 The loan was repayable on cr
before 3O'h Augusl 2022 anci Daisy signed an Acknowledgement of debt in thls
rega rd.

To date, she has not made a single payment and is nor,a.r.reduced to dodging the
Bank's queries. ln essence, she has grven sti-ict insti-uctions to relatives at home not

to open the doorto any strangers, esp. if rhey appear in official attire.

Her further modus operandi is that she iea,res her home at 5 am and returns at 1i pnr,

much to the disnray of her virulently leatcu, ftance

At work, she has rnstructed that no one disrui-bs her, and this has turned out be easy
seeing as she rs the Acting Manager.
The Bank has run out of patience with Daisy anci now seeks to sequestrate her
estate.

YOI.J ARE REQUIRED ?O

Draft the Appllcation fcr the sequesi;'aiion of Ealsy's estate with full reference to
ail the requisite annexures.

s-buiqpiefe s' io ti': em.

 !\i
LJI

Discuss in full the combined effect(s) of sections 34 and 8(h) of the lnsolvency Act 24

of 1936.

r?,nt
JU.]
I

Usingyour own facts and with particular reference to sections !24,'r25 and 126 of the
lnsolvency Act24 cf 1936 draft an application for the rehabilitation of John Cane,

Irs]
Discuss in fullthe effects of a Notice of Surrender in our Lar"nr of Insolvency.

[2c]
\A/hilst on a businesstrip from Cape Torr,.rn, South A.frica, Sylvia H, a Namiblan national,

meets a handsome fellow, Peter Pan, and bcth are instantly smitten with each other.
Plans are made for them to marry instantiy They agree and marry (wirhout an ANC)
before the Magistrate, one lmbili, on :9-' August 2022.

Their whirlwind romance is of short du;atron Cn 22nd August 2022 the shrewd Peter-

Pan cleans out Sylvia H's bankaccount,;r,,hich same ccntained a gi-atuitous N5250,000

inherited from her favourite uncle. Perer Pan, although not yet divorced from Sylvia
H, disappears intc thin air.
The NS25O,0OO rryas the only mone,v and/ or asset to Sylvia H's name, In the sarne
breath she is indebted to various creditors to the tune of NS 200,000. Needless to
say, all creditors have threatened tc break Sylvia H's kneecaps.

Sylvia H has heard of voluntary surrender but is not sure what it means.

a. Wlthout draft!rrg the Applicat!on, advise Sylvia i-{ cn the requiren:ents for
Voluntany Sunremder. {15)

b. Advise Sylvia li on whether or no'tr hen Appiicatior: for Voluntary Surrer:der' {lf
rnade given the above facts] w!ll be successfui. dL1
\JJ