FINAL%

FACULTY OF COMMERCE, ADMINISTRATION & LAW DEPARTMENT OF LAW

ASSIGNMENT COVER SHEET

MODULE TITLE INSOLVENCY AND WINDING UP

MODULE CODE 2LPC302

ASSIGNMENT TOPIC ASSIGNMENT 2

LECTURER’s NAME Adv. Khuzwayo

DUE DATE 29/09//2023

NON - PLAGIARISM DECLARATION

I know that plagiarism means taking and using the ideas, writings, works or inventions of
another as if they were one’s own. I know that plagiarism not only includes verbatim
copying, but also the extensive use of another person’s ideas without proper
acknowledgement (which includes the proper use of quotation marks). I know that
plagiarism covers this sort of use of material found in textual sources and from the Internet. I
acknowledge and understand that plagiarism is wrong. I understand that my research must
be accurately referenced. I have followed the rules and conventions concerning referencing,
citation and the use of quotations as set out in the Departmental Guide. This assignment is
my own work, or my group’s own unique group assignment. I acknowledge that copying
someone else’s assignment, or part of it, is wrong, and that submitting identical work to
others constitutes a form of plagiarism. I have not allowed, nor will I in the future allow,
anyone to copy my work with the intention of passing it off as their own work. By signing this
cover sheet, I agree that I have read and understood the above. I acknowledge that should it
be found to be higher than the acceptable similarity percentage, I may receive 0 (ZERO) for
my assignment.

STUDENT’S NAME STUDENT No. SIGNATURE

Selulekon Nhlonipho Cemane 202103954

1
 IN THE HIGH COURT OF SOUTH AFRICA
(South Gauteng Local Division)
CASE NO. 123/2023

In the matter of:

HOUSE BANK LTD APPLICANT

And

SIBONGILE KHOZA RESPONDENT

(ID: 800203045450084) Unmarried

In the matter of an application for the sequestration of the estate of the Respondent
_________________________________________________________________________
NOTICE OF MOTION
_________________________________________________________________________

TAKE NOTICE that application will be made on behalf of the above applicant on the 29 day
of September 2023 at 10h00 or as soon thereafter as Counsel may be heard for an order in
the following terms,
1. That the respondent’s estate be provisional sequestrated in terms of Section 10 of the
Insolvency Act.

2. That a rule nisi is issued calling on the Respondent and any other interested
parties to show cause to this Court on the 5th day of November 2023 at 10h00 why;

2.1. a final order of sequestration should not be granted, and

2.2. the cost of the application should not be cost in the sequestration.

3. That the Applicant is granted further or alternative relief as this Honourable Court
may deem fit.

FURTHER TAKE NOTICE that the affidavit of House bank LTD, of the Applicant’s Attorney
annexed hereto will be used in support of the application.

2
FURTHER TAKE NOTICE that the applicant has appointed Seluleko Cemane, House bank
attorneys,1st floor, Campton flat 995, Johannesburg, Gauteng

KINDLY place the matter on the roll for hearing accordingly.

DATED Johannesburg at this 22 day of September 2023

......................................................
Per; SELULEKO CEMANE
HOUSE BANK LTD ATTORNEYS
APPLICANT’S ATTORNEYS
1st floor, Campton flat 995
South Street 7
Johannesburg
4400

TO: BY HAND

THE REGISTRAR OF THE HIGH COURT

HIGH COURT OF SOUTH AFRICA
SOUUTH GAUTENG LOCAL DIVISION
JOHANNESBURG
AND TO: SIBONGILE KHOZA BY SHERIFF
RESPONDENT
10 main street, Johannesburg
AND TO: THE MASTER OF THE HIGH COURT BY HAND
South Gauteng local division
Johannesburg
AND TO: SARS BY HAND
JOHANNESBURG
AND TO: Employees (if any ) and Relevant trade union BY SHERIFF
B12 road hilbrow
Gauteng

3
 IN THE HIGH COURT OF SOUTH AFRICA
(South Gauteng Local Division)

CASE NO. 123/2023

In the matter of:

HOUSE BANK LTD APPLICANT

And
SIBONGILE KHOZA RESPONDENT

(ID: 800203045450084) Unmarried

______________________________________________________________________

AFFIDAVIT

______________________________________________________________________

I, the undersigned,

House Bank Ltd

declare under oath as follows.

1. I am duly authorised by the applicant in this matter to depose to this affidavit. All facts
herein are true and correct and fall within my personal knowledge unless the contrary
appears from the context.

2. I am Seluleko Cemane, identity number 0301015757085 presently residing at

Johannesburg and employed as a major male attorney by HOUSE BANK LTD ATTORNEYS

3. The Respondent is Sibongile Khoza (ID: 800203045450084), an adult single female nurse
domiciled within the jurisdiction of the above Honourable Court.

4. The applicant granted the Respondent a home loan of R1000000 (1 million ) on 12 June
2010, which she used to purchase a property located at 10 Urban Street, Johannesburg.

5. The home loan is in arrears and the total due thereunder is R800000

6. For reasons argued below, it is my view that the Respondent is heavily indebted and has
no proespects of settling same with her current assets.

4
7. I argue that the Respondent is insolvent for the following reasons:

7.1 Her total liablities are:

a. House Bank LTd - mortgage bond on the house R 800 000

b. Wheels bank - motor vehicle instalment sale balance R 210 000

c. Money bank - for credit card instalment R 45 000

d. Money Bank - cheque account overdraft R 210 000

e. Air Network - cell phone account R 7400

f. Top Clothing - clothing store account R 12 600

g. SARS outstanding tax R 49 000

h. Money lender - personal loan R 126 000

i. Court order R 2 348 000

R3 8080 00

7.2 Her total assets that can vest in her estate if she is sequestrated are

a) House with mortgage bond R 1 200 000

b) Motor Vehicle R 453 000

c) Jewellery R 165 000

d) investment R 48 000

R1 866 000

7.3 Her liablibilites exceed her assets by R 1 942 000

7.4 The total available residue is R856 000 distributed amongst the body of the creditor of
2788000 will generate 30%

8. I submit that this application complies with Section 9(4) of the Insolvency Act in that:

8.1 It is be accompanied by a certificate of the Master given not more than ten days before
the date of this petition that sufficient security has been given for the payment of all fees and
charges necessary for the prosecution of all sequestration proceedings and of all costs of
administering the estate until a trustee has been appointed, or if no trustee is appointed, of

5
all fees and charges necessary for the discharge of the estate from sequestration. See
Annexure “A”.

8.2 Before the petition is presented to the court, a copy of the petition and of every affidavit
confirming the facts stated in the petition was lodged with the Master. See Annexure “B”.

8.3 A copy of this petition was furnished -

(i) to every registered trade union that, as far as the petitioner can reasonably
ascertain, represents any of the debtor's employees. See Annexure “C”.
(ii) to the South African Revenue Service; and
(iii) to the debtor. See Annexure “D”.
9. I humbly submit that there is reason to believe that it will be to the advantage of creditors if
this application is granted, for the following reasons:

9.1 The estate of the respondent will yield a substantial amount if realized

9.2 The creditor do not have to initiate further legal actions against debtors as court
proceeding may cost.

9.3 If the property of the debtor is placed under the trust respondent won’t be able to dispose
any property

10. I humbly submit that this application meets the provisions of Section 10 of the Act for the
granting of a provisional sequestration in that:

10.1 The creditor has established a valid claim of more than R 1000

10.2 The debtor is and has committed the act of insolvency

10.3 There is a reason to believe that the sequestration order will be advantageous to the
creditors

11. I humbly submit that this application meets the requireents of Section 9(1) of the Act in
that:

11.1 this application is made by one of the creditors with the claim of more than 50 fifty
pounds

11.2 the debtor is insolvent

WHEREFORE I HUMBLY PRAY FOR THE RELIEF STATED IN THE NOTICE OF MOTION

6
DATED AND SIGNED AT Johannesburg ON THIS 22 DAY OF September 2023.

___________________________

DEPONENT

THUS SIGNED AND SWORN TO at Johannesburg on this 22 day of September 2023 the

deponent having acknowledged that the deponent knows and understands the contents of

this affidavit, that the deponent has no objection to taking the prescribed oath, that the oath

which the deponent has taken in respect thereof is binding on the deponent’s conscience,

and that the contents of this affidavit are both true and correct.

______________________

COMMISSIONER OF OATHS

NAME: A.I Tenza

CAPACITY: Practicing attorney

ADDRESS: Johannesburg

Street 123