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STEWART TRUST SERVICES

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FIRM DETAILS

COMPANY NAME:MIKE STEWART TRUST SERVICES CC T/A STEWART TRUST SERVICES

REGISTRATION NO:2000 / 017324 / 23

TELEPHONE NO:011 793 1727 or 011 966 8068

TELEFAX NO:011 793 3457

MEMBER:MICHAEL LAWRENCE STEWART(MLS)– 100% INTEREST

 

INFRASTRUCTURE

The corporation was set up by the Member with the purpose of meeting his need for a legal entity to enable him to practice his profession. MLS as the sole member is a vastly experienced businessmen having been involved in business, the deceased estate and the insolvency industry for many years as a administrator of estates. MLS is a member of the Panel of approved Liquidators of the Master of the High Court, Pretoria, Johannesburg, Cape Town and Mmabatho, but can deal with any matter anywhere in Southern Africa. I have been directly involved in many different liquidations over the years in South Africa, Botswana and Swaziland.

During 2006 I along with my BEE partner was successful in applying to the National Director of Public Prosecutions to be included on their panel of approved Curator Bonis appointees in matters handled by their Asset Forfeiture Unit. We have since then between the two partners been appointed as the Curator Bonis by The High Courts of South Africa in some 100 plus estates. These estates are from Pretoria, Polikwane, Nelspruit and Johannesburg. 

The corporation Stewart Trust Services (STS) attends to the day to day administrative functions of the various estates the member and certain other liquidators are appointed in. STS has a staff complement of three persons, a fully functional office structure with the latest computer technology and software available. The staff are all computer literate. In terms of agreements STS is also responsible for the assisting of Liquidators with the administration of their estates. These file include some of the largest liquidations in South African corporate history. (Currently in excess of 350 matters)

VALUE PROPOSITION

The true strength and value of our business reposes in the Member of the corporation

  • The sole member Michael Stewart (MLS) has vast experience in the liquidation field and knows how to maximise recovery for creditors by ensuring that assets are sold for the best possible price, debtors are recovered to the maximum possible benefit and companies that have failed are properly investigated to determine if Directors / members have removed  assets illegally for personal gain etc. He knows how to use the full powers afforded by the Insolvency / Companies Acts to get the returns creditors require.
  • MICHAEL LAWRENCE STEWART
    ID No 580411 5076 08 5 (MLS)

MLS commenced his career in January 1979 working for FIRST NATIONAL BANK attending to administration of deceased estates. He was responsible for the full administration of the estates from reporting of the estate to finalisation thereof. In February 1985 he left the banks employ to further his career. Between March 1985 and the end of February 1990 MLS performed the same duties for the then BANKORP TRUST. At the time of leaving their employ he was employed as a Senior Administrator.

An opportunity opened for him to join KPMG CHARTERED ACCOUNTANTS in March 1990 and he began working for the firm as an administrator of insolvent estates, pension funds and deceased estates. His duties involved the complete administration of insolvent estates, liquidated Closed Corporations and Companies.  MLS remained with KPMG for eight (8) years and obtained vast experience in many facets of insolvent estate administration including cross border insolvencies in Botswana. During 1998 MLS advanced his career by applying to be placed on the Master of the High Courts approved Panel of Liquidators/ Trustees.

MLS joined COOPER TRUST as a Senior Estate Administrator / Liquidator and worked for the company doing the administration of all the complicated liquidation matters handled by that firm. He attended to the administration of many estates for four (4) years while taking appointments on a regular basis. The administration included many of the largest Liquidations in South African corporate history. It also included cross border liquidations in Swaziland. 

In 1998 MLS completed the AIPSA examination and was awarded the “Diploma in Insolvency Law and Practice” and became a practising member of AIPSA. During November 2002 MLS left Cooper Trust and joined SBT TRUST to once again advance his career. His duties at SBT were the same as at Cooper Trust. MLS is no longer associated with that company. He was approached by other prominent liquidators to assist with the attending to the administration of all of their matters. The estates were to be administered under the umbrella of Stewart Trust Services. MLS is currently responsible for assisting with the administration of in excess of 680 insolvency matters and over 100 curatorship matters. He has also personally been appointed in various matters over the years and finalised many of them. 

BUSINESS STANDING

Full professional Indemnity cover and cover for any Misappropriation of Trust Funds has been taken out with Roxsure Insurance Brokers (Pty) Ltd (underwritten by Admiral Underwriters). This cover is in addition to Security Bond cover required by the Master of the High Court of all Liquidators and Trustees.

BLACK ECONOMIC EMPOWERMENT

The corporation does not comply with BEE requirements. It is however linked by agreements to Bombani Liquidators & Trustees CC and Swartgoud Clerical Services CC both of whom are BEE compliant.

BANKING CUSTOM

Estate banking accounts are spread over all four major banks. To date there are numerous accounts we operate. All administration costs of running the business are covered by Stewart Trust Services which banks with Nedbank Ltd – (Ref B Dean Tel no 011 796 1200) 

PROFESSIONAL QUALIFICATIONS, EXPERTISE AND EXPERIENCE

  • MICHAEL LAWRENCE STEWART

DATE OF BIRTH:11 APRIL 1958

QUALIFICATIONS:MILNER HIGH SCHOOL – MATRIC (1976)

TERTIARYAIPSA INSOLVENCY DIPLOMA THROUGH UNIVERSITY OF PRETORIA (1999)

EMPLOYMENT HISTORY:SEE VALUE PROPOSITION

EXPERIENCE:SEE VALUE PROPOSITION

ASSOCIATION AGREEMENTS

The corporation has links to two companies by way of association agreements

  • Bombani Liquidators & Trustees CC
  • Swartgoud Clerical Services CC

ACCREDITATION MOTIVATION

I believe that with many of the older Liquidators leaving or having left the industry that this is the time to step forward and establish myself and the corporation as a liquidations company that will act with professionalism, integrity and honesty offering creditors a place for them to be treated with respect as they strive to recover a maximum dividend to minimise their losses. Michael have vast experience obtained over many years and can ensure that matters are dealt with properly.

I pride myself in the fact that I can now offer creditors the kind of professionalism and accountability that comes with the responsibility of the office of a Liquidator or Trustee. From the time of my appointment in a matter, I have learned to strive to ensure a maximum and swift realisation of assets and the speedy winding up of estates.

I trust i will be able to be of service to you.

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