Protection of Businesses Act, 1978
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)14. Petitioning creditor to prosecute sequestration proceedings until trustee appointed |
| (1) | The creditor upon whose petition a sequestration order has been made shall, at his own cost, prosecute all the proceedings in the sequestration until a provisional trustee has been appointed or if no provisional trustee has been appointed until a trustee has been appointed. |
| (2) | The trustee shall pay to the said creditor out of the first funds of the estate available for that purpose under section ninety-seven his costs, taxed according to the tariff applicable in the court which made the sequestration order. |
| (3) | In the event of a contribution by creditors under section one hundred and six, the petitioning creditor, whether or not he has proved a claim against the estate in terms of section forty-four, shall be liable to contribute not less than he would have had to contribute if he had proved the claim stated in his petition. |
