Once a company is liquidated, legal actions are suspended. Asset attachments are void. The liquidator will proceed or stay with legal action. Legal action refers to any summons, civil judgment, court application, or ongoing litigation are suspended. If your company is locked in legal action, it is worth considering liquidation as a cheaper and […]
What happens to legal action after liquidation Read More »
Liquidation is the legal process of closing a company that can no longer pay its debts. In South Africa, the legal grounds for liquidation are detailed in Section 344 of the Companies Act, Act 61 of 1973. This article explores when and how a company can be liquidated, focusing on various scenarios prescribed by law.
When can a company liquidate Read More »
If your business is drowning in debt, staying afloat can feel like an impossible task. The constant pressure and harassment from creditors can cause sleepless nights, and the overwhelming stress makes it difficult to focus on running your business. However, liquidation offers an effective solution to eliminate business debt while allowing you to continue trading.
Liquidation: 6 essential steps to eliminate debt and keep trading Read More »
Trading is tough in this economy. Businesses are folding left and right, bogged down by sluggish recovery, suffocating SARS debt and high wages. Perhaps you are among the struggling, haunted by debts your business cannot settle and work your business cannot finish. The fear, stress, worry, and sleepless nights must be taking a toll. There
Liquidation to get Financial Freedom from a failing business Read More »
The shortest route to the fastest solution for a company that has debt it cannot pay, (SARS included) is Liquidation. Liquidation ends the company that cannot pay its debt. After Liquidation the affairs of the company is wound up. Creditors are under control, the liquidator deals with them so that you do not have to.
The Benefits of Liquidation in South Africa Read More »
Copyright © 2022 Prinsloo and Associates Attorneys | All Rights Reserved | Powered By AppXtreme