Notices are also court orders.
Court Order | Description | Retention Period |
Sequestration | A formal declaration that the individual is insolvent. Either the individual himself or his creditor(s) may apply to the court for a sequestration order. This mean’s the individual has diminished legal capacity – they may not enter into a credit agreement but they may legally enter into a lease agreement | The earlier of 10 years or until rehabilitation order is granted |
Rehabilitation | A order of the court terminating the individual’s Sequestrated status | 5 years |
Administration Order | An administrator is appointed to distribute payments to the individual’s creditors | The earlier of 10 years or until rescinded by the court |