It is a sad reality of the COVID-19 pandemic that many companies and individuals have been severely affected by the ongoing lockdown restrictions and economic headwinds. This has resulted in a sharp upturn in the number of companies facing either business rescue or liquidation. This includes directors who are tied in as sureties and could potentially face sequestration in their personal capacity. In such an overwhelming situation, many companies need help navigating the turbulent waters of insolvency.
There are various options available to companies facing this situation, whether it is a temporary cash-flow problem or a worst-case scenario where the company is facing insolvency and should liquidate as best it can. This situation also affects those companies who have weathered the COVID-19 storm, but now have increasing book debt because of customers who cannot pay.
We can help you with the following:
- Advising your company on how best to secure and recover your outstanding book debt with debtors before they are liquidated or sequestrated.
- If your company is in financial difficulty, assessing the best option available for your business. These options include entering into business rescue, compromising with creditors, or liquidation.
- Advising on all ancillary aspects of liquidation and sequestration.
For personal and professional advice contact Peter Feuilherade (email@example.com), Chris Salmon (firstname.lastname@example.org) or Claire Delport (email@example.com). Our office number is 031 266 2530. #peoplematter