HOW LONG DOES LIQUIDATION OF A COMPANY TAKE IN SOUTH AFRICA? If your business is failing, then you have a legal responsibility to take action in saving it or liquidating it. Indeed, unlike with an individual where the individual must have sufficient assets to ensure that sequestration can provide for enough benefits for the creditors and payment of the sequestration process, a company does not… Read More »HOW LONG DOES LIQUIDATION OF A COMPANY TAKE?

SPECIALIST INSOLVENCY LAWYERS ON COMPLEX SEQUESTRATION ISSUES Voluntary sequestration is a legal process whereby you can apply to be declared bankrupt. Since it involves a court application, you need the help of specialist insolvency lawyers to handle the process. However, with many legal pitfalls to avoid when dealing with creditors, it is best to seek legal advice from such specialist insolvency lawyers even before you… Read More »SPECIALIST INSOLVENCY LAWYERS

BASICS OF VOLUNTARY SEQUESTRATION – INSOLVENCY ACT IN SOUTH AFRICA The sequestration act in South Africa is called the Insolvency Act No 24 of 1936. If you consider voluntary sequestration as a means to become debt free in South Africa, it is essential to become familiar with stipulations of the Insolvency Act. To this end, we recommend speaking to our insolvency attorneys who can explain… Read More »SEQUESTRATION ACT IN SOUTH AFRICA

UNDERSTANDING THE BASICS OF SEQUESTRATION AND REHABILITATION With the help of our attorneys specialising in sequestration, you can become debt free within a short period of time. Once all requirements are met, you can apply for rehabilitation and regain full control over your financial affairs. We briefly discuss some aspects related to rehabilitation, helping you to understand when you can regain control over your estate… Read More »SEQUESTRATION AND REHABILITATION

REQUIREMENTS AND PROCEDURES FOR A SEQUESTRATION APPLICATION The first step towards becoming free of debt is to determine if you meet the requirements for a sequestration application in South Africa. To this end, we briefly look at the requirements. INSOLVENCY REQUIREMENTS For a voluntary sequestration application to be successful, you must be insolvent. This means your liabilities must exceed your assets. You must be unable… Read More »SEQUESTRATION APPLICATION

HOW YOU CAN SAVE MONEY WITH SEQUESTRATION EXPERTS Debt collectors knocking at your door? Are you afraid to answer the phone because of constant creditor harassment? Have you juggled between credit cards up to now? Are your home loan repayments behind? Do not stress. Debt help is available. Indeed, you can save money with sequestration experts. Here is how: Instead of signing agreements with debt… Read More »SAVE MONEY WITH SEQUESTRATION EXPERTS

ADVANTAGES AND DISADVANTAGES OF VOLUNTARY SEQUESTRATION We want you to make an informed decision regarding the management of your debt situation and, as such, discuss the advantages of voluntary sequestration, as well as disadvantages to consider below. BENEFITS OF SEQUESTRATION IN DEALING WITH THE IMMEDIATE CREDITOR THREAT If creditors harass you day and night, you will be glad to know that once the notice of… Read More »ADVANTAGES OF VOLUNTARY SEQUESTRATION

PROCESS OF APPLYING FOR VOLUNTARY SEQUESTRATION IN SA Applying for voluntary sequestration may be the last thing on your mind, until you experience extreme financial difficulty. If such is the situation, you may want to consider filing for bankruptcy to: HOW TO PROCEED IN APPLYING FOR VOLUNTARY SEQUESTRATION First, we must determine whether you meet the requirements for voluntary sequestration. To this end, we look… Read More »APPLYING FOR VOLUNTARY SEQUESTRATION

WHAT IS THE DIFFERENCE BETWEEN BANKRUPTCY AND INSOLVENCY? Though the terms of bankruptcy and insolvency are used interchangeably, there is a distinct difference between the two. For one, a person can be insolvent without being bankrupt. However, one cannot file for bankruptcy unless insolvent. Insolvency is a financial state whereas bankruptcy is a legal state regarding your financial welfare. Let us explain it in more… Read More »BANKRUPTCY AND INSOLVENCY

DO YOU MEET THE VOLUNTARY SEQUESTRATION REQUIREMENTS? The Insolvency Act of 1936 and its amendments govern the process of voluntary surrendering one’s estate and the application to be declared bankrupt. In order to make use of voluntary sequestration as a debt-management solution, certain requirements must be met, which are briefly discussed below. LIABILITIES MUST EXCEED ASSETS The High Court of the country must be satisfied… Read More »SEQUESTRATION REQUIREMENTS