VOLUNTARY LIQUIDATION WITH CIPC
A company or close corporation can be winded up voluntarily through the companies and Intellectual Property Commission (CIPC).
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LIQUIDATION OF A COMPANY
The winding up proceedings by the court are governed by the Companies Act 61 of 1973, certain provisions of the Insolvency Act 24 of 1936 and the Companies Act 71 of 2008.
read moreLIQUIDATION 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 […]
read moreTYPES OF SEQUESTRATION
There are various forms of sequestration in South African Law. By far the most popular form of sequestration for individuals is an application for the voluntary surrender of estate. Sequestration is governed by South African legislation, more specifically the Insolvency Act 24 of 1936. FORCED SEQUESTRATION A creditor of an individual can apply for forced […]
read moreVOLUNTARY SURRENDER
An individual can apply for the sequestration of his/her estate for the benefit of creditors. This is referred to a “voluntary surrender” of the estate and the most popular form of debt relief for an overburdened debtor. A court may accept the surrender if the debtor proves, among other things, that his liabilities exceed his […]
read moreWHAT IS LIQUIDATION?
Liquidation typically occurs when a company has reached a point where, for one reason or another, it has been decided that the business cannot continue. In such a case it can be considered liquidating the company. This basically means turning your assets into cash, subject to applicable legislation. Turning assets into cash is generally […]
read moreWHAT IS SEQUESTRATION?
Sequestration is defined as the surrender of an individual’s estate (financial affairs) to the High Court under the governance of the Insolvency Act 24 of 1936. An individual can declare themselves insolvent, and file for sequestration if their debt has become too great and unmanageable and their liabilities exceed their assets. The debtor is relieved […]
read moreCOVID-19 and Parental Rights in South Africa
The Minister of Social Development amended the Directions issued in terms of Regulation 10 (8) of the Regulations made under Section 27 (2) of the Act Measures to Prevent and Combat the Spread of COVID-19 on 7 April 2020, 16 April 2020 and 29 April 2020. In terms of the latest amendment on 29 April […]
read moreCan a Passenger in a Motor Vehicle Accident Claim from the Road Accident Fund?
The Road Accident provides compensation for people who have been severely injured in a motor vehicle accident, this is not only limited to drivers of the motor vehicle it also includes passengers and pedestrians. As a passenger injured in a motor vehicle accident you will most likely not be held liable for any contributory negligence […]
read moreRoad Accident Fund Claims: General Damages
When you are injured in a motor vehicle accident you may qualify to claim from the road accident fund. Should you have sustained a serious injury, for example, losing a limb or having a serious brain injury you could qualify to claim what is referred to as general damages. General damages include compensation for pain […]
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