Legal Blog - Louwrens Koen Attorneys #bankruptcy
Upon the sequestration of an individual, the estate of such individual vests with the Master, until a Trustee is appointed for the estate. Thereafter the estate vests in the Trustee. Section 20 of the Insolvency Act regards the following as being part of the estate: “(a) all property of the insolvent at the date of the sequestration, including property or the proceeds thereof which are in the hands of a sheriff or a messenger under writ of attachment; (b) all property which the insolvent may acquire or which may accrue to him during the sequestration….”
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