by Jay Pillay Incorporated | Jan 2024 | Company / Corporate / Compliance, Debt Recovery
“He who is quick to borrow is slow to pay” (Old proverb) A recent High Court decision means that, for the first time, creditors of debtor companies are specifically cleared to apply for the company’s directors to be declared “delinquent” in certain circumstances. And...
by Jay Pillay Incorporated | Aug 2023 | Debt Recovery
“Creditors have better memories than debtors” (Benjamin Franklin) How well you manage your debtors’ book, and how successful you are in actually collecting monies due to you, should always be a management priority. It can spell the difference between a successful,...
by Jay Pillay Incorporated | Jun 2023 | Debt Recovery
“The requirement that credit providers must be registered allows for their control and regulation, especially in relation to their financial probity and integrity, thereby avoiding the unscrupulous exploitation of credit consumers by so-called fly-by-night operators...
by Jay Pillay Incorporated | Sep 2022 | Debt Recovery, Insolvency / Liquidation
You should always take as much security for your claims as you possibly can before advancing credit or lending money to a debtor. That’s because if your debtor fails and is “liquidated” (if a corporate) or “sequestrated” (if an individual), without security you will...
by Jay Pillay Incorporated | Aug 2022 | Debt Recovery, Property
“A court shall not authorise execution against immovable property which is the primary residence of a judgment debtor unless the court having considered all relevant factors, considers that execution against such property is warranted” (High Court Rules) Selling a...
by Jay Pillay Incorporated | Jul 2022 | Company / Corporate / Compliance, Debt Recovery, Uncategorized
“… for the benefit of immunity from liability for its debts, those running the corporation may not use its formal identity to incur obligations recklessly, grossly negligently or fraudulently. If they do, they risk being made personally liable.” (Quoted in the...