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INSOLVENCY AND BUSINESS TURN-AROUND SPECIALISTS

INSOLVENCY AND BUSINESS TURN-AROUND SPECIALISTS

010 286 1966 | [email protected]

We have Voluntary Liquidation

down to a science

Voluntary Liquidation advice from one of South Africa’s
leading Insolvency attorneys.

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We have Voluntary Liquidation

down to a science

Liquidation advice for all those who need to know what to do, how to do it and when to do it.

5+ star Google review

Fill in the form to get a fresh start.

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Get a fresh start

Voluntary Liquidation Process

Voluntary liquidation is the process in which a company is shut down and a professional liquidator is appointed.  Proceeds from the sale of assets are paid to creditors. In order to assure that all classes of creditors are compensated, the liquidation process will pay secured and preferential creditors first, and thereafter concurrent creditors.

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Voluntary Liquidation Process

Voluntary Liquidation is the process in which a company is shut down and a professional Liquidator is appointed.  Proceeds from the sale of assets are paid to creditors. In order to assure that all classes of creditors are compensated, the liquidation process will pay secured and preferential creditors first, and thereafter concurrent creditors.

What are my options?

Feeling like you are out of options? Here are some things
you can consider before deciding on the liquidation of the company.
Read 15 options for company debts. in our blog for more details

Option 1

Sell the business

You can use the proceeds of the sale of the business to pay the remaining creditors and still get something out. All you need is a buyer. Read FAQ’s

Option 3

NEGOTIATE REPAYMENTs

Interest rates are the price you pay for borrowing money. If you have company debt, it is possible to negotiate an extended repayment. *note that this will increase the interest costs of the debt. Read FAQ’s

Option 5

Increase profitability

You can downsize the business, increase productivity, increase marketing, reduce unprofitable activities, take on more profitable work, reduce shrinkage, motivate staff, increase pricing or improve service or product offering. Read FAQ’s

Option 2

Close the Business

You can simply close the business if the liabilities are manageable, or if there is a plan to repay suppliers, banks and taxes. Read FAQ’s

Option 4

Fund the business

Sell share, take up more credit or get investors onboard. All of these activities would need some sort of financials to show the viability of the business and potential return on investment. Read FAQ’s

Option 6

BUSINESS RESCUE

Business rescue is for very large organizations. It results in a stay of legal action from creditors. A Business Rescue Practitioner is appointed and a business rescue plan is drawn up, to try and salvage the company. Read FAQ’s

Option 7

Voluntary Liquidation

Voluntary Liquidation is for companies that have no other options left and want the company to wound up in terms of the insolvency laws of South Africa. Read FAQ’s

 

Fill in the form to get a fresh start.

What are my options?

Feeling like you are out of options? Here are some things you can consider before deciding on the liquidation of the company. Read 15 options for company debts. in our blog for more details

Option 1

Sell the business

You can use the proceeds of the sale of the business to pay the remaining creditors and still get something out. All you need is a buyer. Read FAQ’s

Option 2

Close the Business

You can simply close the business if the liabilities are manageable, or if there is a plan to repay suppliers, banks and taxes. Read FAQ’s

Option 3

NEGOTIATE REPAYMENTs

Interest rates are the price you pay for borrowing money. If you have company debt, it is possible to negotiate an extended repayment. *note that this will increase the interest costs of the debt. Read FAQ’s

Option 4

Fund the business

Sell share, take up more credit or get investors onboard. All of these activities would need some sort of financials to show the viability of the business and potential return on investment. Read FAQ’s

Option 5

Increase profitability

You can downsize the business, increase productivity, increase marketing, reduce unprofitable activities, take on more profitable work, reduce shrinkage, motivate staff, increase pricing or improve service or product offering. Read FAQ’s

Option 6

BUSINESS RESCUE

Business rescue is for very large organizations. It results in a stay of legal action from creditors. A Business Rescue Practitioner is appointed and a business rescue plan is drawn up, to try and salvage the company. Read FAQ’s

Option 7

Voluntary Liquidation

Voluntary Liquidation is for companies that have no other options left and want the company wound up in terms of the insolvency laws of South Africa. Read Our FAQ’s

 

Fill in the form to get a fresh start.

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Get a fresh start

Talk to one of SA's leading Insolvency Attorneys

Do you need help understanding your options? Get in touch with Breyten Potgieter at Liquidation Attorneys. We’ve helped thousands of companies with their individual needs. Don’t just sit back and wait, get us on the line now!

Liquidation Attorneys Logo

Get a fresh start

Talk to one of SA's leading Insolvency Attorneys

Do you need help understanding your options? Get in touch with Breyten Potgieter at Liquidation Attorneys. We’ve helped thousands of companies with their individual needs. Don’t just sit back and wait, get us on the line now!

Liquidating the Business

The liquidation results in a stay of legal proceedings or closing of the company in liquidation. The creditors have to submit claims to the estate, which usually consists of an affidavit as well as supporting documents of the amounts of the claims.

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When do I close my business?

As soon as the decision has been made to close the company down or liquidate it, we suggest that the company closes its doors for business. This is usually once the instruction is given to your attorney to proceed with liquidation proceedings.

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Get out of debt and prosper

Closing the Business

The liquidation results in a stay of legal proceedings or closing of the company in liquidation. The creditors have to submit claims to the estate, which usually consists of an affidavit as well as supporting documents of the amounts of the claims.

When do I close my business?

As soon as the decision has been made to close the company down or liquidate it, we suggest that the company closes its doors for business. This is usually once the instruction is given to your attorney to proceed with liquidation proceedings.

We handle the whole liquidation process for you

People have different needs, and so do businesses. We have helped thousands of companies through the Liquidation process ensuring that you can survive and thrive. Liquidation Attorneys are experts in business insolvency and restructuring. We can help you with the practical, legal and financial advice you need to get your business back on track.

We handle the whole liquidation process for you

People have different needs, and so do businesses. We have helped thousands of companies through the Liquidation process ensuring that you can survive and thrive. Liquidation Attorneys are experts in business insolvency and restructuring. We can help you with the practical, legal and financial advice you need to get your business back on track.

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Get out of Sars debt

What about SARS & Tax returns?

Sars requires that the tax returns be handed in for them to make an accurate assessment of the taxes due. Sars will issue a claim against the estate if there are taxes outstanding. The tax file gets coded and allocated to their insolvency department. For a more detailed discussion about sars and liquidation, please consult our attorneys.

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Get out of Sars debt

What about SARS & Tax returns?

Sars requires that the tax returns be handed in for them to make an accurate assessment of the taxes due. Sars will issue a claim against the estate if there are taxes outstanding. The tax file gets coded and allocated to their insolvency department. For a more detailed discussion about sars and liquidation, please consult our attorneys.

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Help When You Need it Most

Getting a fresh start

If your business has become insolvent or you’re simply looking for a fresh start, we can help. We can advise you on the best way to approach the situation for you and your business. Get a fresh start with voluntary liquidation.

Liquidation Attorneys Logo

Help When You Need it Most

Getting a fresh start

If your business has become insolvent or you’re simply looking for a fresh start, we can help. We can advise you on the best way to approach the situation for you and your business. Get a fresh start with voluntary liquidation.

Hassle Free Process

Our team of Insolvency attorneys are experts in the process of liquidation. We’ll deal with creditors on your behalf and simplify the process to eliminate the hassle, so you can concentrate on other important things.

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Solve your debt problems

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Solve your debt problems

Hassle Free Process

Our team of Insolvency attorneys are experts in the process of liquidation. We’ll deal with creditors on your behalf and simplify the process to eliminate the hassle, so you can concentrate on other important things.

Our business liquidation process is designed to ensure that you have peace of mind

Our Voluntary liquidation process is designed to ensure that you have peace of mind

How long is it going to take?

The easiest and quickest is registering a special resolution at the companies registrar. This usually takes about 3 weeks and the company is liquidated.

For more complex matters, an application to the High Court for an order for liquidation can take 3 months or longer, depending on if it is opposed or not.

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no need to wait

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no need to wait

How long is it going to take?

The easiest and quickest is registering a special resolution at the companies registrar. This usually takes about 3 weeks and the company is liquidated.

For more complex matters, an application to the High Court for an order for liquidation can take 3 months or longer, depending on if it is opposed or not.

Fill in the form to get a fresh start.

Free Consult

Our expert legal team will talk through your situation to help you understand your options for moving forward. We are happy to provide an obligation free consultation on how we can best help. Just call or email us today. Liquidation can be a tough process, but it’s not the end of the road. Our team of experts is here to help you take control of your options.

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Because we care

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Because we care

Free Consult

Our expert legal team will talk through your situation to help you understand your options for moving forward. We are happy to provide an obligation free consultation on how we can best help. Just call or email us today. Liquidation can be a tough process, but it’s not the end of the road. Our team of experts is here to help you take control of your options.

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Advice on all aspects of voluntary liquidation

When you’re ready to move on, we’re ready to help. We can explain your available options and advise you on a plan that suits you and your unique situation. Liquidation doesn’t have to be the end.

Fill in the form to get a fresh start.

Liquidation Attorneys Logo

Advice on all aspects of business liquidation

When you’re ready to move on, we’re ready to help. We can explain your available options and advise you on a plan that suits you and your unique situation. Liquidation doesn’t have to be the end.

Fill in the form to get a fresh start.

Frequently Asked Questions

What to do, how to do it and when to do it

How to liquidate a company?

There is a legal process that has to be followed. Liquidation is complex and you will need to consult to properly understand the do’s and don’t. Get a fresh start in business and life. Contact Liquidation Attorneys.

What about my landlord?

A landlord will have a landlord’s hypothec over the contents of the business premises if you are in arrears with the rental. The landlord will also have a claim for the outstanding lease period.

When to liquidate a company?

When the situation is so dire that the company can not pay its creditors as they become due. This usually happens because of cash flow constraints. Do not wait too long, consult early and maybe the situation is salvageable.

What about my employees?

Employees have limited claims for arrear salaries and other unpaid leave and benefits. Unfortunately, it does take considerable time before employees see any payments from the liquidated estate.

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Who can liquidate a company?

The Directors, shareholders and creditors of the company may apply to liquidate the company either via court process or filing at the Company Registrar in the case of a voluntary winding up.

faq

What to do, how to do it and when to do it

How to liquidate a company?

There is a legal process that has to be followed. Liquidation is complex and you will need to consult to properly understand the do’s and don’t. Get a fresh start in business and life. Contact Liquidation Attorneys.

When to liquidate a company?

When the situation is so dire that the company can not pay its creditors as they become due. This usually happens because of cash flow constraints. Do not wait too long, consult early and maybe the situation is salvageable.

Who can liquidate a company?

The Directors, shareholders and creditors of the company may apply to liquidate the company either via court process or filing at the Company Registrar in the case of a voluntary winding up.

What about my employees?

Employees have limited claims for arrear salaries and other unpaid leave and benefits. Unfortunately, it does take considerable time before employees see any payments from the liquidated estate.

What about my landlord?

A landlord will have a landlord’s hypothec over the contents of the business premises if you are in arrears with the rental. The landlord will also have a claim for the outstanding lease period.

Testimonials

With over 12 years of client care, we always put our clients first. Our attorneys have advised thousands of businesses and owners giving them financial peace of mind and a plan for the future. Get Your Life Back on Track and Out of Debt

Ula | Business Owner

5+ Rating review

Fantastic, I’m totally blown away by the level of professionalism and proficiency of Liquidation Attorneys. Thank you for your help and support Breyten and team.

Ula | Business Owner

5+ Rating review

Fantastic, I’m totally blown away by the level of professionalism and proficiency of Liquidation Attorneys. Thank you for your help and support Breyten and team.

Leaveil Raymond | Local Guide

5+ Rating review

Had a most professional experience while dealing with this firm. Very friendly staff and very knowledgeable attorneys. Thanks for the awesome service.

Leaveil Raymond | Local Guide

5+ Rating review

Had a most professional experience while dealing with this firm. Very friendly staff and very knowledgeable attorneys. Thanks for the awesome service.

Liquidation-Attorneys-Icons-clients
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Liquidation-Attorneys-Icons-coffee

Testimonials

With over 12 years of client care, we always put our clients first. Our attorneys have advised thousands of businesses and owners giving them financial peace of mind and a plan for the future. Get Your Life Back on Track and Out of Debt

Ula | Business Owner

5+ Rating review

Fantastic, I’m totally blown away by the level of professionalism and proficiency of Liquidation Attorneys. Thank you for your help and support Breyten and team.

Ula | Business Owner

5+ Rating review

Fantastic, I’m totally blown away by the level of professionalism and proficiency of Liquidation Attorneys. Thank you for your help and support Breyten and team.

Leaveil Raymond | Local Guide

5+ Rating review

Had a most professional experience while dealing with this firm. Very friendly staff and very knowledgeable attorneys. Thanks for the awesome service.

Leaveil Raymond | Local Guide

5+ Rating review

Had a most professional experience while dealing with this firm. Very friendly staff and very knowledgeable attorneys. Thanks for the awesome service.

Liquidation-Attorneys-Icons-clients
Liquidation-Attorneys-Icons-yearspng
Liquidation-Attorneys-Icons-coffee

Is your company in Debt?

Fill in the form and get a free consultation. Voluntary Liquidation is not the end. Know your options contact us today.

About Breyten Potgieter

Breyten Potgieter is one of South Africa's leading insolvency attorneys. Get the right advice for you and your business. Know your option when it comes to Voluntary Liquidation.

When things get tough, you don’t have to face them alone. Our team has helped thousands of people to get out of debt, and back on their feet, with over 12 years of experience in liquidations, sequestration, insolvency rehabilitation, trusts and company registrations, we are the professionals you need to get you taken care of.

About Breyten Potgieter

Breyten Potgieter is one of South Africa's leading insolvency attorneys. Get the right advice for you and your business. Know your option when it comes to Voluntary Liquidation.

When things get tough, you don’t have to face them alone. Our team has helped thousands of people to get out of debt, and back on their feet, with over 12 years of experience in liquidations, sequestration, insolvency rehabilitation, trusts and company registrations, we are the professionals you need to get you taken care of.