If your business is facing extreme financial difficulties and there are no options for restructuring or recovery, nor any prospect of obtaining financial investment, then the company must be liquidated.
The Companies Act No. 61 of 1973 states that an insolvent company cannot continue to operate.
Despite a lack of assets to pay all creditors, the company must stop trading and either enter business rescue or go through the liquidation process.
It is essential to gain a comprehensive understanding of liquidation procedures in South Africa.
Letting us assist with the liquidation process can help ensure that the process is handled efficiently, effectively, and in accordance with the law.
Subscribe to our Newsletter
Estate Agent Training
Bond & Transfer Calculator