Liquidation of a company is not simply regulating a company’s inability to pay their debts, it is far more complex.
For instance, it is a criminal offence if you
- are a company director, and;
- have a reasonable basis upon which to believe that the company/close corporation is in financial distress, and;
- fail to:
a) liquidate the close corporation/company, or;
b) place the company under “Business Rescue”, or;
c) forward a notice to all creditors, trade unions, shareholders, and employees advising them that the close corporation/company is undergoing financial problems and provide reasons as to why the company is not placed under Business Rescue or liquidated;
Our Durban team of experts, with over thirty years experience in bring liquidation applications, is able to provide the following assistance throughout the country:
- undertake forensic investigations;
- advise on security and preference rankings;
- recover assets/funds for the benefit of creditors;
- setting aside undue preferences and other impeachable transactions;
- carry out investigations for creditors and liquidators;
- advice on challenges to security and preference claims of creditors;
- advise on the option of proceeding against directors (and others) personally;
- consider and inform on the validity of claims made by creditors;
- organize and run enquiry proceedings.
Our legal team at M. P. Lutge Incorporated, a Durban firm of attorneys with their own complex network of professional and expert attorneys throughout South Africa, has liquidated numerous companies and close corporations over the decades of its existence. Our practical experience and cumulated theoretical knowledge, accumulated over the last 30 years, ensures your close corporation/companies liquidation is dealt with in the best manner for you and your company.
Our proficient and professional Durban team of attorneys are experts in all aspects of liquidations. Whether for multinational corporation, national franchises, or small businesses, our specialist liquidation attorneys will ensure the liquidation of your company or close corporation quickly and cost effectively.
Our Durban firm is widely regarded as one of the best local and international legal service providers dealing with the liquidation of companies and close corporations. With our group of professional and practised attorneys strategically placed throughout the country, there is no doubt that we are the experts attorneys you require to deal with any close corporation or company liquidation.