This article provides a comprehensive guide to understanding the definition of liquidation in South Africa. From the different types of liquidation to the legal requirements and procedures, this article covers everything you need to know.
Liquidation in South Africa: A Comprehensive Guide Read More »
Concursus creditorum is a Latin term used in the legal system of South Africa to describe the process of distributing the assets of an insolvent estate among its creditors. It is an important concept to understand if you are involved in liquidation proceedings, either as a creditor or as a company going through the process.
Understanding Concursus Creditorum in Liquidation in South Africa Read More »
When a business undergoes liquidation in South Africa, creditors often face uncertainty regarding their outstanding debts. Understanding how the business liquidation process works can help creditors navigate this challenging time more effectively. If your company is struggling to pay debts, including SARS debt, speak to us to learn how liquidation can provide a way to
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If your business is struggling with debt and you are considering liquidating your company, it is crucial to act swiftly. With the right advice and support, like the assistance we as liquidation lawyers provide, it is possible to liquidate and even continue trading. Liquidation is often viewed as a last resort, but it should be
Liquidation of a Business in South Africa: What You Need to Know Read More »
In South Africa, businesses face numerous challenges such as power cuts, inflation, labour disputes, and the lingering effects of COVID-19 lockdowns (believe it or not, some business never recovered from the lock-downs but still tried). These struggles often lead to severe financial strain, which can cause immense stress for business owners. If you are overwhelmed
Understanding Liquidation: A Solution for Struggling Businesses in South Africa Read More »
In South Africa, both insolvent and solvent companies have the option to do a voluntary liquidation. When a company or close corporation is insolvent, it means the company is unable to pay its debts or its liabilities exceed its assets. When a company is insolvent, it must liquidate in terms of the Companies Act 2008.
Liquidation is a legal process that occurs when a company is brought to an end and a liquidator is appointed to oversee the sale of the company’s assets. This can happen for a variety of reasons, including insolvency, financial difficulties, or a decision by the company’s directors to wind up the business. During the liquidation
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When business debt becomes overwhelming and is no longer manageable, liquidation may be the best option. Liquidation allows you to eliminate debt and make a fresh start. Though the process can seem daunting, there are steps you can take to keep your business in control and even continue trading after liquidation. Here are six
How to Liquidate Your Business and Get Rid of Debt: 6 Steps to Keep Trading Read More »
If your business is drowning in debt, staying afloat can feel like an impossible task. The constant pressure and harassment from creditors can cause sleepless nights, and the overwhelming stress makes it difficult to focus on running your business. However, liquidation offers an effective solution to eliminate business debt while allowing you to continue trading.
Liquidation: 6 essential steps to eliminate debt and keep trading Read More »
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