What Happens After a Company Is Liquidated?
The word ‘liquidation’ tends to trigger panic. Directors fear personal liability. Employees fear losing their jobs and their money. Creditors fear they will never see a cent. And yet, for most people involved in a liquidated company, the biggest source of anxiety is not knowing what the process actually involves. This article explains, in plain […]
Business Rescue vs Liquidation: Which Saves More Value?
Financial distress in business rarely happens overnight. It builds over time as cash flow tightens, creditors apply pressure, and operations become strained by inflation. By the time directors need to make a decision, their options are often limited. The Companies Act 71 of 2008 introduced business rescue as an alternative to liquidation, aimed at preserving […]
Is it time to say goodbye to your business?
South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium business enterprises. Many of these struggling enterprises are now at a crossroads: do they continue […]
Is your business being liquidated?
Many businesses fail and consequently have to face financial crises that few recover from and in most instances, results in business owners shutting doors for good. If your business has no assets or liabilities, the more simpler process of deregistration takes place. The liquidation process needs to be followed if your business has assets, liabilities or both. The Liquidation of Your Business […]