Liquidation of a company is no longer a simple matter of regulating a company’s inability to pay their debts.
You will commit a criminal offence if you
- are a director of a company, and;
- have reasonable grounds to believe that the company is in financial distress, and;
- you fail to:
- liquidate the company, or;
- place the company under “Business Rescue”, or;
- send a notice to all shareholders, creditors, employees and trade unions that the company is in financial problems and give reasons why the company is not liquidated or placed under Business Rescue;
Our team of experts, with over thirty years worth of experience in liquidations, is able to provide the following services not only in Durban but also throughout the country:
- carry out investigations for creditors and liquidators;
- consider and inform on the validity of claims made by creditors;
- advise on the option of proceeding against directors (and others) personally;
- setting aside undue preferences and other impeachable transactions;
- undertake forensic investigations;
- organize and run enquiry proceedings;
- recover assets/funds for the benefit of creditors;
- advise on security and preference rankings;
- advice on challenges to security and preference claims of creditors.
At M. P. Lutge Incorporated, our legal team, which is headed up in Durban but which forms part of our complex network of professional and expert attorneys throughout South Africa, has dealt with the liquidation of numerous companies, and other business entities, over the decades of its existence. Our years of practical experience and cumulated theoretical knowledge ensure your companies liquidation is dealt with in a manner that is best for you and your company.
Our professional team of attorneys is more than proficient in all aspects of liquidations. Whether for small businesses, national franchises, or multinational corporations, our liquidation specialist attorneys will deal with the liquidation of your juristic entity quickly and cost effectively.
Our Durban firm, M. P. Lutge Incorporated, is widely regarded as one of the best legal service providers, both locally and nationally, who deal with the liquidation of companies. With our group of practised and professional attorneys, situated strategically throughout the country, there is no doubt that we are the experts you require, whether you are a director of the company or one of its creditors, to deal with any company liquidation.