Osier Property (Pty) Ltd (C635/2016)
Date submitted: 20.08.2016
Comments made by the trustee/liquidator
The provisional order of liquidation was granted on 26 July 2016. The return date of the provisional order of liquidation is 13 September 2016.
Dear creditors, please be advised that J Eckhoff and HY Ismail are the co-appointed liquidators of Osier Property (Pty) Ltd. Furthermore, the main duty of the provisional liquidators is to secure the assets of the estate and not to report on the company’s affairs. The creditors will receive a report in terms of section 402 of The Companies Act No 61 of 73 from the final liquidators within three months of their appointment. We will notify you on 13 September 2016 if the order is made final and the way forward. 23 August 2016
The provisional order of liquidation was made final on 13 September 2016. The Master of the High Court will now convene by notice in the Gazette, a first meeting of the creditors of the estate for the proof of their claims against the estate. The Master’s shall publish such notice on a date not less than ten days before the date upon which the meeting is to be held and shall in such notice state the time and place at which the meeting is to be held. The liquidators will also make the notice available on this website. 13 Sep 2016
The first meeting of creditors will take place at The Master of the High Court, Cape Town on 4 November 2016 at 09:00. 11 Oct 2016
The first meeting of creditors was successfully held and closed today. The liquidators shall now proceed to examine the claims that were proven at the first meeting of creditors. The liquidator shall, within three months, convene the second meeting of creditors. The purpose of the meeting is to prove additional claims against the estate, adopt resolutions and to table a formal creditors and contributories report. The time, date and place of the second meeting of creditors and the formal creditors and contributories report will also be made available on this website. 4 Nov 2016
The statutory second meeting of creditors, members and contributories, in terms of section 402 of the Companies Act no 61 of 1973, as amended, will be held before the Master of The High Court, Cape Town, on 09 December 2016 at 09h00. 27 Nov 2016
The second meeting of creditors was successfully held and closed. The liquidators will now proceed in accordance with the liquidators 402 report and creditors directions. The first liquidation and distribution account will be submitted by 04 May 2017.
Please be advised that only the secured creditor, the landlord, will receive a dividend from the first liquidation and distribution account. Preferent and concurrent creditors will not receive a dividend from the first L&D account, despite them being reflected on the account. The liquidators must still expunge certain claims and prove additional claims before they can accurately pay a concurrent dividend.
A Special meeting of creditors will take place at The Master of the High Court, Cape Town on 12 May 2017 at 09:00. The meeting gives creditors one last opportunity to prove their claims against Osier before the liquidators proceed with a second and final liquidation and distribution account.
The special meeting of creditors was successfully held and closed. The liquidators will now proceed to investigate the claims that were proven at the meeting. The second and final liquidation and distribution account shall be lodged before 20 September 2017, as required by the Insolvency act.
The second and final liquidation and distribution account was confirmed by the Master the High Court. The liquidators will now proceed to pay all the creditors their dividends and close the file.
Notice of Motion
Provisional liquidation order
Provisional certificate of appointment
Final order of liquidation
Minutes of First Meeting of Creditors
Certificate of appointment
Minutes of second meeting
Minutes of special meeting of creditors