Question NW1159 to the Minister of Justice and Correctional Services
14 January 2023 - NW1159
Pambo, Mr V to ask the Minister of Justice and Correctional Services
What is the (a) total number of persons who have been declared insolvent and finally sequestrated by the courts in the past five years and (b) breakdown of the specified number according to (i) race, (ii) highest debt and (iii) lowest debt?
Reply:
a) The table provides details of the total number of persons who have been declared insolvent and finally sequestrated by the courts in the past five years:
|
Year |
Insolvencies (Natural Persons) |
Liquidations (Legal Persons) |
Total |
|
|
2018 |
2 691 |
3 697 |
6 388 |
|
|
2019 |
3 329 |
4 071 |
7 400 |
|
|
2020 |
1 911 |
4 223 |
6 134 |
|
|
2021 |
2 481 |
4 099 |
6 580 |
|
|
2022 |
2 249 |
3 877 |
6 126 |
|
|
Total |
12 661 |
19 967 |
32 628 |
|
b) The Master of the High Court does not keep statistics with regards to race and debt value. It should also be noted that the true value of the assets is not necessarily finalised at application date but only finally established by the appointed trustee or liquidator during winding up.