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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.
Read More ...Posted by Cor van Deventer on Tuesday, March 28, 2023 Views: 0
Fortunately, South African employees have certain rights and protections under the law when their employer becomes insolvent. Additionally, the Companies Act and the Insolvency Act provide for the appointment of a liquidator to oversee the winding up of the company's affairs and to ensure that employees are treated fairly.
Read More ...Posted by Cor van Deventer on Thursday, March 23, 2023 Views: 56
Understanding the different types of insolvencies is important for individuals and businesses who are struggling to meet their financial obligations, as it can help them choose the best course of action to address their financial difficulties.
Read More ...Posted by Cor van Deventer on Thursday, March 9, 2023 Views: 88
As a law firm specializing in insolvency and liquidation in South Africa, we know how important it is for individuals and businesses to understand the differences between these three terms. In this blog, we'll provide a clear definition for each, as well as an explanation of the key differences between insolvency, liquidation, and bankruptcy.
Read More ...Posted by Cor van Deventer on Tuesday, March 7, 2023 Views: 95