R Leathern NO & Others v The Reserve Bank.
22 May 2020
The facts in the attached judgment can be summarised as follows:
- The applicants are the joint trustees of the Insolvent Estate Bhorat.
- The first respondent, by way of a Mr. Malherbe, had issued a “blocking order” on 15 June 2017 against funds in two accounts (held at the second respondent) standing to the credit of the insolvent estate trading as R & R Traders & Brokers.
- The Court had to decide whether the claim to the funds "vested" in the trustees and whether the blocking order "trumped" the sequestration order.
- The Court found in favour of the applicants and ordered the second respondent to pay the funds to the applicants in trust.
This judgment was kindly sent to us by William Leathern.