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Posts Tagged 'types of liquidation in South Africa'

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Understanding the Liquidation Process in South Africa

In South Africa, there are two types of liquidation: voluntary liquidation, which is initiated by the company's directors or shareholders, and involuntary liquidation, which is initiated by the company's creditors or the court.

What You Need to Know About Liquidation in South Africa

While the business rescue procedure is aimed at rehabilitating financially distressed companies so that they can return to solvency, liquidation is aimed at winding the company upon realisation that the situation is so dire, and liquidation is the only option left.


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