I have a friend in Gauteng that posed an interesting question to me yesterday regarding commercial rental and liquidation and I was hoping one of the legal brains on here could shine some light.
Friend is a commercial rental agent - her largest client has just commenced the liquidation process. The building will form part of the liquidation process and has an 80% occupancy - common sense tells me that in a case like this any rental income obtained will more than likely be put into a trust account during the liquidation process and will eventually be disbursed to the various creditors, the building will be sold and any proceeds from this will also form part of the disbursements - I cannot see them kicking out tenants and shutting down the building?
If this is the case, does my friend still have a right to her monthly commission or does she form part of the creditors and be expected to lodge her claim with the liquidators?
Any insight would be most welcome.