One of the ways a legal practitioner can specialise is by becoming an insolvency practitioner. Commonly referred to as a liquidator, only admitted attorneys or those holding an LLB, BProc, or BCom Law or Accounting Degree, may be appointed to the Chief Master’s National List of Liquidators.
How do you become eligible to be placed on the Chief Master’s National List of Liquidators?
The first step is to be placed on the Aspirant Insolvency Practitioner List. This is a list of aspirant insolvency practitioners under a two-year mentorship, aspiring to become an insolvency practitioner on the Chief Master’s List of Insolvency Practitioners.
All new applicants will be placed on this list. In order for the aspirant insolvency practitioner to be elevated to the Chief Master’s List, a report must be lodged by the aspirant insolvency practitioner and his/her mentor at the end of a two-year mentorship. Once the aspirant insolvency practitioner has completed his/her two-year period and has complied with the necessary requirements as prescribed by the Chief Master, one of which is completing a written examination presented by the Master, he/she will then be considered to be placed on the Chief Master’s List.
The Chief Masters’ assessment
The Chief Masters’ assessment will also need to be completed during the two-year period. This test is a written examination and will test a candidate’s knowledge of the Insolvency-, Companies-, and Close Corporations Act, as well as various case law and general insolvency and liquidation practices.
The Chief Masters’ List
After completion of the above process, the candidate will be placed on the Chief Masters’ List and will be eligible to be appointed on various insolvency matters. Insolvency practitioners will, however, only be allowed to receive a maximum of 10 appointments per year and take appointments in the Master’s office where they practice.
Last updated on 08/05/2025