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Kramer Villion Norris - KVN MAY 2017
 
 
 
Collecting Arrear Levies: A New Risk for Your Body Corporate
 
Levy collections are the lifeblood of sectional title schemes, and both owners and trustees need to know about a new Supreme Court of Appeal decision which puts at risk the body corporate’s right to apply for the sequestration of levy defaulters’ estates.

That has serious implications for the body corporate’s ability to collect arrears by accessing the value in the unit itself.  Be warned and act now to nip any arrears in the bud …
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Directors and the “Delinquency” Danger  
 
 
Landlords v Tenants - Who Pays for Unauthorised Repairs?  
 
 
Creditors – Your Special Notarial Bond is Good for 30 Years  
 
 
 
 
 
 
 
 
 
 
 
Amongst the many challenges that company directors face is the danger of being declared “delinquent”, or being put “on probation”.

We discuss who can apply for a delinquency order and the serious consequences for the director if it is granted.
 

Read on also for details of a case recently before the High Court involving many millions raised from the public in share offers, a failed plan to build an international airport and a director now facing “7 years in the wilderness”.
 
 
 
You rent a house and the geyser packs in or the pool starts leaking.  The landlord ignores your pleas to fix the problem – or outright refuses to do so.  Can you go ahead and do the repairs yourself, then deduct your costs from your rental payments?  We discuss a recent High Court case which ended badly for the tenant.

We also share some tips for both landlords and tenants on avoiding these costly and unnecessary disputes.
 
 
 
There’s good news for creditors in a recent Supreme Court of Appeal judgment handing a R500k victory to a creditor against both the debtor close corporation and its member who had signed a personal suretyship.

We explain what “a special notarial bond” over your debtor’s movables is, and how it secures your claim and protects you from a “3 year prescription” defence.  

 
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Your May Website: Money Saving Apps in a Time of Junk
 
We are clearly in for some challenging times, with predictions of price rises, interest rate increases, and restricted earnings.  Here are 5 “finance apps” to help you survive by controlling expenses and boosting savings.

And amidst all the doom and gloom, remember we’ve been here before – a historical chart of our grading history since 1994 illustrates …
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Disclaimer

This Newsletter is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice.

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