LIQUIDATION OF A CLOSE CORPORATION
Winding-up proceedings of close corporations are governed by the provisions of various South African Legislation including the Close Corporation’s Act 69 of 1984, the Companies Act 61 of 1973 and certain provisions of the Insolvency Act 24 of 1936 and finally by provisions of the Companies Act 71 of 2008. Both a solvent and insolvent close corporation can be liquidated.
