H&M Sourcing CC
Date submitted: 07.05.2019
Comments made by the trustee/liquidator
Welcome to Summit Trust.
Kindly be advised that Christa M Penderis, Herman Bester and Sean S Johnson will attend to the liquidation of H&M Sourching CC (in provisional liquidation) “H&M”. Furthermore, all communications regarding this estate (progress reports, creditor reports, meeting of creditors etc) will be done via this online estate profile, the Government Gazette and one or more newspapers circulating in the district in which the corporation was registered or had its main place of business.
Kindly be advised that H&M was provisionally liquidated on 09 April 2019. Furthermore, The Master of the High Court, Cape Town, appointed Christa M Penderis (Summit Trust), Herman Bester and Sean S Johnson to be the liquidators of the corporation on 06 May 2019.
Please be advised that when a corporation is in provisional liquidation it is the duty of the liquidators to, inter alia, take charge of the corporation’s assets and not to comment on its affairs. The liquidators will submit a formal creditors report in terms of section 79 of the Close Corporations Act at the second meeting of creditors. Further instructions and information will follow from the liquidators if the order is made final on 17 May 2019.
The provisional order of liquidation was made final on 17 May 2019. The Liquidators will convene by notice in the Gazette, a first meeting of the creditors and members of the corporation for, inter alia, the proof of their claims against the corporation. The Liquidators shall publish such notice on a date not less than ten days before the date upon which the meetings is to be held and shall in such notice state the time and place at which the meeting is to be held.
The first meeting of creditors was successfully held and closed on 24 July 2019 at the Magistrate’s Court, Kuils River at 09h00. The Liquidators shall, within three months, convene the second meeting of creditors. The purpose of the second meeting of creditors is to prove additional claims against the estate, adopt resolutions and to table a formal creditors, members and contributories report. The time, date and place of the second meeting of creditors and the creditors, members and contributories report will be made available on this website.
The second meeting of creditors which took place on 2 October 2019 at the Magistrate, Kuils River, at 09h00 was postponed to 2 December 2019 for the purposes of holding an enquiry.
The liquidators were unable to obtain any additional information at the enquiry which could assist the liquidators with the recovery of assets. In light of the aforesaid, the second meeting was closed, and the liquidators will now proceed with a final liquidation and distribution account.
Please note the Master’s protocol pertaining to insolvent estates. We will proceed accordingly and keep you informed.
Summit Trust herewith extends an invitation to all interested parties to contact us if you and/or your company is financially distressed. We can help you consider all your options which might include business rescue, compromise with creditors, voluntary liquidation or sequestration. Your consultation will be free and confidential. If you require our advice, please email email@example.com with a short summary of your financial situation.
Provisional order of liquidation
Certificate of Appointment
Preliminary Report by Joint Liquidators
The minutes of the first meeting of creditors
Resolutions adopted at the first meeting of creditors
Minutes of the Second Meeting