Dear Creditors

Welcome to Summit Trust.

Kindly be advised that Jochen Eckhoff, Pierre De Villiers Berrange and Nandipha Madikizela will attend to the sequestration of The Sataar Trust “ Sataar Trust ”. Furthermore, all communications regarding this estate (progress reports, creditor reports and the meetings of creditors) will be done via this online estate profile, the Government Gazette and one or more newspapers circulating in the district in which the insolvent resides or his / her principle place of business is situated. If you register to this online estate profile you will receive notifications, via email, every time it is updated.

Kindly be advised that “Sataar Trust” was provisionally sequestrated on 4 November 2020.  Furthermore, The Master of the High Court, Cape Town, “The Master” appointed Jochen Eckhoff (Summit Trust), Pierre De Villiers Berrange and Nandipha Madikizela as Provisional Trustees of Sataar Trust on 17 November 2020. Please be advised that it is the duty of the Provisional Trustees to secure the assets of the insolvent estate and not to report on the affairs of the insolvent estate. The trustees will report to the creditors at the second meeting of creditors in terms of section 81 of the Insolvency Act 24 of 1936.

Further instructions and information will follow if the provisional order of sequestration is made final on 27 January 2021.

The final order of sequestration was opposed and the return date was postponed to 13 April 2021.

The provisional order of sequestration was made final on 13 April 2021. The Master of the High Court will now convene by notice in the Gazette, a first meeting of the creditors of the estate for, inter alia, the proof of their claims against the estate. The Master 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.

Kindly download the claim form which you will see on the right-hand side of your screen. The claim must be completed, signed, commissioned and supported with documents proving your claim. If the claim is in your personal capacity, then you must complete the power of attorney for a representative, who will prove your claim at the creditors meeting, but if Sataar Trust owes a company money which you represent then both the company resolutions and the power of attorney, attached to the claim, must be completed. If goods were sold and delivered to Sataar Trust on an open account then a statement must be submitted in support of the claim showing the monthly total and a brief description of the purchases and payments for the full period of trading or for the period of 12 months immediately before the date of sequestration, 4 November 2020. whichever is the lesser.

The claim must be emailed to our offices, stephan@summittrust.co.za, within 14 days from 15 April 2021. If the claim is correct, we will advise you to deliver or courier the original claim to our offices: Summit Trust, 2nd Floor, 155 Loop Street, Cape Town.

The first meeting of creditors was successfully held and closed at the Master’s Office on 7 December 2021 at 09h00. The Trustees shall, within three months, convene the second meeting of creditors.  The purpose of the second meeting is to prove additional claims against the estate, adopt resolutions and to table a report to creditors. The time, date and place of the second meeting of creditors will be made available on this website.

The second meeting of creditors will be held at Bellville Magistrate’s Court on 21 January 2022 at 11h00.

The second meeting of creditors was successfully held and closed  at Bellville Magistrate’s Court on 21 January 2022 at 11h00. The Trustees will now proceed in accordance with their adopted report and resolutions

The first liquidation and distribution account was confirmed by the Master on 17 February 2022. The Trustees will now proceed to distribute the assets of the insolvent in accordance to the first liquidation and distribution account.