Negative Effects of Sequestration - Sequestration in South Africa

What are the negative effects of sequestration?

You will not be able to act as a member of a Closed Corporation or as a director of a company.

You will not be able to have or administrate a Trust Account. Example, Attorney’s Trust Account, Property Agents Trust Account etc.

Your credit record with the credit bureaus will reflect your insolvent status which will prevent you from obtaining further credit until you have rehabilitated (for more information see Rehabilitation).

Some high end financial employment positions may be affected negatively and should be double checked by your company’s policies and procedure or you can contact any of our Insolvency Practitioners for more information.