Wind Up Wind Down

Debt Review and Sequestration are legally regulated debt solutions offered to consumers in South Africa to assist with managing debt. In this article, we discuss the difference between Debt Review and Sequestration in South Africa and also which of the two may be the best possible solution for your specific financial situation.

Bankruptcy may provide you with the debt relief you seek when you are neck-deep in debt and see no other way out. It is a voluntary debt solution that can write off a large portion of your debt. If you are genuinely unable to meet your unsecured debt obligations and repayments, bankruptcy is the way to go. Let's see how you can apply for bankruptcy in South Africa.

Whether solvent or insolvent, a company can decide to liquidate, pay its creditors, and wind up its business operations. Let’s talk about the effects of Liquidation on a company in South Africa and what happens after the order is granted, i.e. to the company, employees, creditors, SARS, directors and shareholders.

When you find yourself in a financial pinch and have exhausted all the options to recover, sequestration or liquidation becomes a prime choice. But what's the difference between the two? In this article, we discuss the key difference between Sequestration and Liquidation in South Africa. Furthermore, we shall also see the key differences in the legal procedure of the two.

When a company in South Africa reaches the end of its operational life, it may consider ceasing its activities. Companies may either consider deregistration with the CIPC or liquidation via a court order. While both result in the company being removed from the official register, they differ significantly in purpose, procedure, and financial implications. In this article, we understand the difference between company deregistration and company liquidation in South Africa.

When a company or a close corporation in South Africa undergoes liquidation, the South African Revenue Service must be involved for tax purposes. In this scenario, the liquidator also acts as the representative taxpayer on behalf of the company. In this article, we understand the major role SARS plays in the company or CC liquidation process in South Africa.