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Whether sequestration or company liquidation, an insolvency practitioner plays an important role in these legal processes. Insolvency Practitioners, or IPs, help you navigate the legal situation during your financial distress. In this article, let us understand the role of an insolvency practitioner during bankruptcy in South Africa.

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.

Bankruptcy and insolvency are related but are different. While a bankrupt person is insolvent, an insolvent person is not necessarily bankrupt. Below, we explain the difference and how an individual can declare bankruptcy in South Africa.

Approximately 12 million adults in South Africa struggle with unmanageable debt, according to the Finmark Trust. One legal solution that often comes up in this context is Sequestration, a process in which an individual voluntarily applies to be declared insolvent by a court. The court then appoints a trustee to manage and distribute the insolvent party's assets to its creditors. But the big question remains: Is sequestration a good idea in South Africa? In this article, we ex