Statistics Act, 1999
R 385
Cross-Border Insolvency Act, 2000 (Act No. 42 of 2000)Chapter 5 : Concurrent Proceedings32. Rule of payment in concurrent proceedings |
Without prejudice to secured claims or rights in rem , a creditor who has received part payment in respect of his or her or its claim in proceedings pursuant to a law relating to insolvency in a foreign State may not receive a payment for the same claim in proceedings under the laws of the Republic relating to insolvency regarding the same debtor, so long as the payment to the other creditors of the same class is proportionately less than the payment the creditor has already received.
