Quick Cost Effective Company Liquidation Process
Let Solvendi's Business Liquidation experts help you through a speedy, simplified, stress-free process
Avoid Personal Liability
Stop Legal Action
Write Off Debt
No Assets Required
Protect Your Personal Assets
If you have not signed personal surety for business debt then all debt will be written off, including debt owed to SARS. This occurs either by writing off 100% of the debt, if the business has no assets. Alternatively by selling business assets, the proceeds of which will go to your creditors.
Creditor Communication
We will communicate with all creditors on your behalf, ensuring a smooth transition until all claims are finalised. All lease agreements with regards to buildings and hire purchase agreements with regards to equipment are terminated once our Liquidator is appointed and all claims addressed.
Stop Legal Action
Within 2 weeks all legal action will stop. This is how quickly we can obtain your Liquidation Order. This order is then served on your creditors immediately putting an end to legal action, harassing calls and worries that assets will be repossessed. All queries will be addressed by our appointed Liquidator within 30-60 days from the granted Liquidation Order.
We manage SARS
Let us manage SARS final letters of warning and personal liability letters. The most effective way to reduce the risk of personal liability is to treat SARS notices and deadlines with priority. This means ensuring a response is delivered within the timeframes provided. This includes providing SARS with the Liquidation Order as quickly as possible.
Each assessment is unique and is conducted to ensure that we attend to the closure of your business in a strategic way. It provides the foundation for making sound decisions and providing the best advice. It includes information with regards to the process itself and how we will manage various issues on your behalf.
The Director/s of a Company will initiate the liquidation process by passing a resolution to voluntarily wind up (close) the company. We provide this documentation which will be signed by each one of the Director/s and certified by a Commissioner of Oath. This is the start of the process.
We will draw up a Statement of Affairs which is a statement explaining in detail the company's financial position. This Statement as well as the Resolution is filed with the Master of the High Court. Once filed a Provisional Liquidation Order is granted giving us permission to proceed to wind up the company.
The Liquidator is appointed. Responsibilities include meeting with the creditors, distributing assets and surplus funds - if any - and determining any outstanding claims against the business. Any claims, whether secured or unsecured, are dealt with in order of priority as laid out by the law.
Once the Liquidator has attended to all responsibilities, the final liquidation order is granted. This order is back dated to the date of the Provisional Order as this was the start of the process. CIPC records the dissolution of the Company and publishes a notice to this effect in the Government Gazette.
Practising Attorneys Specialising in Insolvency Law
20 Years
Experience
Members of the Legal Practice Council
Qualified
Liquidators
Members of the Association of Insolvency Practitioners
Tell Us About Your Company
If you are facing the complexities of financial stress in your business, you can’t afford to do without the clear thinking of a legal expert.
Whether the winding up is voluntary or compulsory, you’ll benefit from our calm professionalism and track record.
01
Consultation & Assessment Tailored for Your Situation
We discuss your needs in detail offering the best solution possible. An assessment will be provided to you explaining the process.
02
Assign you to a Dedicated Legal Practitioner
We render trusted legal services by legal experts at the highest ethical standards ensuring the best possible outcomes and successes.
03
We Will Guide You Throughout The Process
From the moment you start, we will guide you through the process, explain what we are doing and answer any questions you may have