Maryna holds the BA, LLB, LLM degrees and is a Director at the Cape Town offices of STBB. She is an admitted Attorney, Notary Public and Conveyancer with many years of experience in the field of property law and conveyancing. She is also the firm's Marketing Director and attends to external publications for the firm as well as conducts ongoing training for estate agent and bankers training and is a regular seminar presenter for attorneys and property practitioners.

Property Law Update | Issue 11 – 2018

CANNOT (WITHOUT MORE) LOOK TO A TRUST’S ASSETS FOR THE SATISFACTION OF A TRUSTEE’S PERSONAL DEBTS

Osborne v Cockin NO and Others (549/2017) [2018] ZASCA 58 (17 May 2018)

When you lose several million rands in a business arrangement with Mr X, and X’s estate is later sequestrated whilst it appears that X’s family trusts are faring much better, you may well wonder whether recourse could be had from the trusts. If it appears that X used the trust as an alter ego for his personal dealings then, in very specific circumstances, one can ‘pierce the veil’ of the trust. This judgment tells such a story and although the application was unsuccessful for technical reasons, it is important to take note to differentiate between transacting with an individual in his personal capacity and in his capacity as trustee of a trust.

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The Judgment
Summary of the Judgment

STBB’s STSMA REFERENCE GUIDE

In this, the fifty-third set of notes for your STSMA Reference Guide, Prescribed Conduct Rule 1 is discussed.

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Prescribed Conduct Rule 1
(N.B. Print in landscape)