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Dispositions made by a company that is being wound up | The court’s role
- 22nd Nov 2021
- Posted by: Barnard Inc
- Categories: Business Rescue, Commercial Litigation, Company Law, Court Rulings, Debt Collection, Latest News, Liquidation Application, Litigation
No CommentsRecently, the SCA was asked to decide on circumstances in which it would be appropriate for a court to validate a disposition made by a company that is being wound up.
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The Liquidation Application Process
- 19th Apr 2021
- Posted by: Barnard Inc
- Categories: Commercial Litigation, Company Law, Latest News, Liquidation Application
Liquidation implies that a business is not able to pay its debt and that the company’s liabilities now exceed its assets. The liquidation of a company further entails that the company will cease to operate and that is generally due to the company’s financial problems.
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Voluntary liquidation in South Africa
- 7th Jan 2021
- Posted by: Barnard Inc
- Categories: Commercial Litigation, Company Law, Latest News, Voluntary Liquidation
The process of liquidation involves a company (or close corporation) ceasing all trading activities, selling its company assets and then distributing the proceeds to its creditors. There are two options for the voluntary winding-up of a solvent business.