Business rescue provides a structured approach to address financial and operational challenges, enabling entrepreneurs and small business owners to restructure their companies, renegotiate debts, and navigate complex legal landscapes.
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Posted by Cor van Deventer on Wednesday, May 10, 2023 Views: 2829
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.
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Posted by Cor van Deventer on Tuesday, March 28, 2023 Views: 8733
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.
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Posted by Cor van Deventer on Thursday, March 23, 2023 Views: 4013