BANK OF CREDIT AND COMMERCE ZIMBABWE LTD v MBIDZO 1987 (2) ZLR 190 (H)

Flynote

Insolvency — acts of insolvency — provisional sequestration — basis on which provisional order will be granted — Insolvency Act [Chapter 303] — s 15.

Headnote

In order to obtain a provisional order of sequestration in terms of s 15 of the Insolvency Act [Chapter 303], three facts need to be proved:

• (a) that an act of insolvency has been committed;
• (b) that it will be to the advantage of creditors of the debtor if his estate is sequestrated; and
• (c) that the petitioning creditor has a claim of not less than $100.

Only prima facie proof of these three facts is required to obtain a provisional order, whereas in the case of a final order the court must be satisfied that these facts exist.