HOW LIQUIDATION CAN HELP TO SAVE JOBS It is your responsibility as a business owner to protect the assets of your business. Part of this entails getting to know the requirements of the Companies Act, and knowing when it is time to speak to South African liquidation experts. Though it may seem strange, liquidation can be used as a means to save the jobs of… Read More »SOUTH AFRICAN LIQUIDATION EXPERTS
VOLUNTARY SEQUESTRATION AS AN ALTERNATIVE TO OTHER APPROACHES IN DEALING WITH DEBT ISSUES Voluntary sequestration is an effective legal means to get rid of up to 80% of your debt in one go, and to become completely debt-free within a relatively short period. Many other approaches are followed, but be careful about such methods. Avoid the following means to address debt, as you will only… Read More »SEQUESTRATION
HOW TO DEAL WITH INSOLVENCY IN SOUTH AFRICA Before 1995, it was still possible to be imprisoned for non-payment of debts. Back in the day, if a debtor was not able to pay their debts, the debtor was considered a criminal and treated as such. However, it is no longer legal to imprison someone for unpaid debt, except for debt owed to SARS, but that… Read More »INSOLVENCY
HOW REHABILITATION AFTER INSOLVENCY WORKS IN SOUTH AFRICA Voluntary sequestration is an effective means to get rid of your debt. It affords you the opportunity to start fresh and live using cash rather than depending on credit. Once the relevant period has lapsed and conditions have been met, you can apply for rehabilitation. Rehabilitation after sequestration is automatic if a period of ten years has… Read More »REHABILITATION AFTER INSOLVENCY
IS IT TIME TO LOOK FOR FAST AND EFFECTIVE DEBT SOLUTIONS? Did you overspend during the previous festive season, and then came home to find the pool pump no longer doing its part to keep the water flowing? To add to your misery, SARS phoned and demanded immediate payment for outstanding taxes, and to top it all, your pedigree dog had to undergo surgery, which… Read More »FAST AND EFFECTIVE DEBT SOLUTIONS
INSOLVENCY LAWYERS TO ASSIST WITH REHABILITATION AFTER SEQUESTRATION IN SOUTH AFRICA Rehabilitation is a legal process whereby you apply to the High Court of South Africa to be relieved from your insolvent status. The effect is that you will regain the legal status you had before the sequestration. Your credit record will show that you have been rehabilitated and are no longer under sequestration. Unless… Read More »INSOLVENCY LAWYERS
ISSUES REGARDING LIQUIDATION OF YOUR BUSINESS If a creditor wants to bring an application for liquidation of your company, the creditor must be able to prove that it would be fair and just to liquidate your company. The creditor must prove that your company is insolvent and thus unable to pay its debts. If you want to bring a voluntary application for liquidation of your… Read More »LIQUIDATION
HOW TO START WITH THE VOLUNTARY LIQUIDATION APPLICATION PROCESS The liquidation application process, unlike with the sequestration application process, does not require a business to have cash or assets sufficient to ensure that the sale thereof can provide for the minimum benefit to creditors and pay for the liquidation process. This is so because, according to the regulations of the Companies Act and the Trust… Read More »LIQUIDATION APPLICATION PROCESS
LIQUIDATION AS ONE OF THE DEBT SOLUTIONS THAT WORK FOR A COMPANY If your business is in trouble, it is essential to take proactive steps in seeking debt solutions that work. Business rescue is one such a debt solution that can work very well. However, if it is not a viable way to save the business, it is time to apply for voluntary liquidation. Perhaps you have… Read More »DEBT SOLUTIONS THAT WORK
BASICS REGARDING THE VOLUNTARY LIQUIDATION OF A COMPANY Unlike with the sequestration of an individual, with the voluntary liquidation of a company, the business does not require cash or assets that are sufficient to ensure sale thereof will be enough to provide for minimum benefit to creditors. If the liabilities of the company exceed the business assets, the business is insolvent and according to the… Read More »LIQUIDATION OF A COMPANY