Phillip Chiyangwa
Philip Chiyangwa NAFAZ president
I CONTEND that Section 3 of the Insolvency Act is applicable to the Applicant and that the application is properly before the (High) Court.
It must be noted right from the onset that the situation Applicant is grappling with is one of insolvency. It is one relating to the soundness and going concern capacity of the Applicant.
he definition of debtor is recorded in the Insolvency Act as follows:
debtor in connection with the sequestration or assignment of the estate of a debtor, means a person or partnership, including a partnership which has been terminated but has not been wound up, which is a debtor in the usual sense of the word but does not include a body corporate or a company or other a…
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