Liquidation Options and Process South Africa 2022
- Liquidation Experts SA
- Dec 1, 2022
- 1 min read
When a company/close corporation undergoes a voluntary or compulsory liquidation (also known as the “winding – up” of a company/close corporation) it involves the process of selling all the assets, paying off creditors, issuing any remaining assets to the shareholders, and closing the company/close corporation.
Liquidation Is Not the End of the Road and Is Not Necessarily a Symptom of Failure. Let Us Help Your Business Get Rid Of SARS And Other debt.
Liquidation gives results. Benefits of liquidation.
Liquidation Is Not the End of the Road and Is Not Necessarily a Symptom of Failure. Let Us Help Your Business Get Rid of SARS And Other debt. Trading out rarely works. How to liquidate. Liquidation gives results. Benefits of liquidation.
Q: What are the consequences of Liquidation?
A: All legal action stops immediately!!
Any attachment by Creditors put into force against the Company / Close Corporation after the commencement of the Liquidation is void.
The Directors or Members cease to be in charge of the Company / Close Corporation, the Master of the High Court will Appoint a Liquidator whom will deal with all the matters of the Company / Close Corporation.
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