Southern Rhodesia: High Court of Southern Rhodesia – Bond of Security

High Court of Southern Rhodesia

Bond of Security

 

The Master of the High Court requires a Liquidator or Trustee that is appointed in an insolvent estate to lodge a Bond of Security with them. The Bond of Security is provided by an Insurance Company to cover the estate against any misappropriated by the Liquidator or Trustee.  It protects the creditors and other beneficiaries of the estate.

The Master sets the value required for the security after various processes. The Bond of Security is lodge at the Master of the High Court’s offices for the appointed liquidator.
In case of a claim against the Bond of security the Master of the High Court will call on the Bond of Security. The money will be paid to the Master of the High court.

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