Meetings of Creditors; Proof of Claims

Section 49

Claims against partnership distinct from claims against partners


(1) When the estate of a partnership and the estates of the partners in that partnership are under sequestration simultaneously, the creditors of the partnership shall not be entitled to prove claims against the estate of a partner and the creditors of a partner shall not be entitled to prove claims against the estate of the partnership; but the trustee of the estate of the partnership shall be entitled to any balance of a partner’s estate that may remain over after satisfying the claims of the creditors of the partner’s estate in so far as that balance is required to pay the partnership’s debts and the trustee of the estate of a partner shall be entitled to any balance of the partnership’s estate that may remain over after satisfying the claims of the creditors of the partnership estate, so far as that partner would have been entitled thereto, if his estate had not been sequestrated.

(2) Nothing in this section shall be construed as preventing the Commissioner for the South African Revenue Service from proving in the manner provided in this Act a claim against the estate of a partnership in respect of any sum referred to in paragraph (b) of section one hundred and one, or any interest due on such sum.

[Sub-s. (2) added by s. 21 of Act No. 6 of 1963, substituted by s. 12 of Act No. 99 of 1965, amended by s. 1 of Act No. 49 of 1996 and substituted by s. 5 of Act No. 69 of 2002.]