Insurance for Liquidators

Why the need for TOP UP insurance?

For law firms and sole practitioners alike, it is critical that the limit of cover offered under your Professional Indemnity insurance policy is adequate for your business. We strongly recommend you review your limit to determine whether an increase in cover, beyond what may be offered by your professional indemnity fund. For attorneys this is…

Been Appointed as a Liquidator?

This means a company has either filed for voluntary liquidation or a creditor has placed the company into liquidation and creditors have motivated or endorsed your appointment as liquidator of the company (in liquidation) and the Master having regard to this support received from creditors as well exercising its own discretion, has requested you to…

Advantages of Using a Brokerage with a National Footprint

In the highly competitive insurance brokerage industry, service delivery is of utmost importance. At Shackleton Risk Management (“SRM”) we are able to provide our services nationally across South Africa. With offices in Johannesburg, Pretoria, Durban, Cape Town, Port Elizabeth, Bloemfontein and Nelspruit and representation in Grahamstown, Kimberley and Mmabatho, we are able to be the…

Business Rescue vs Liquidation in South Africa

Simply put, a liquidation and business rescue can be compared to a shut down versus rehabilitation. Liquidation (also known as “winding up”) is when a debtor company which owes money to a creditor is wound up.  The creditor would typically apply to court to after having demanded payment from the debtor company to no avail, to…

Why Shackleton Top-Up Indemnity Insurance for Professionals?

WHY SHACKLETON TOP-UP INDEMNITY INSURANCE FOR PROFESSIONALS? The limit of professional indemnity cover for negligent acts, errors or omissions committed by legal practitioners offered by the AIIF is limited in its amount annual and scope. The limit is determined by the number of directors of the firm meaning the smallest amount of cover is offered…

Drawing a distinction between liability as a surety and liability as surety and co–principal debtor

A Person binding himself as surety may in addition bind himself as co-principal debtor. But in the absence of an express undertaking to bind himself as the latter, one would need to look at the language of the suretyship and the circumstances surrounding same to ascertain whether he binds himself as both. However what is…