What is a Sequestration Order?
A sequestration order is when the court rules that a debtor’s estate must be placed under trustee/curator control for the sale of assets on auction, from which the proceeds are distributed among the creditors to pay off the debt owed
This will only be done if the debtor is insolvent and unable to pay their debts. The debtor’s estate must have sufficient assets to ensure the sale thereof can create enough funds to guarantee the minimum benefit to each of the creditors and to pay the cost of the process.
If your liabilities exceed your assets and you are unable to pay your debts, call on the expertise of our insolvency lawyers in determining the best course of action in addressing your debt problems and, where relevant, to seek a voluntary sequestration order.