When a Company runs into financial difficulties events can move alarmingly fast. This is why you’ll need the expertise of a legal team that can respond quickly and think on its feet. Solvendi’s attorneys have the track record and expertise to complete your Voluntary Liquidation within 2 weeks.
For a Detailed Explanation of how Liquidation works go to: Liquidation Process
Practising Attorneys Specialising in Insolvency Law
20 Years
Experience
Members of the Legal Practice Council
Qualified
Liquidators
Members of the Association of Insolvency Practitioners
The Process below takes approximately 2 weeks to complete:
We provide a detailed assessment tailored to your specific situation.
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We discuss your options and determine the way forward - free of charge.
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We provide you with the costs before you make a decision to proceed - free of charge.
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We draft and prepare the legal documentation to proceed with the Voluntary Liquidation.
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Directors sign the legal documentation.
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Liquidation lodged and resolutions passed within 5 days.
For more information on Business Liquidation go to: Liquidation
As long a the Directors have not signed personal surety, all debt is written off.
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SARS
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Outstanding Creditors
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Employee Compensation
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All Contractual Agreements come to an end
For Directors that have signed personal surety we have another solution (Voluntary Surrender) that can write off 75% of personal debt including the business debt they signed personal surety for.
For a Detailed Explanation of how Voluntary Surrender works go to: Voluntary Surrender
An appointed and licensed Liquidator is required for the Liquidation of a Company and they have several duties in their position. After their appointment they have the responsibility to act as an impartial third-party to oversee the process from beginning to end.
Responsibilities include, but are not limited to:
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Creating a Statement of Affairs document for the Creditors
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Meeting With the Creditors
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Selling assets and distributing the funds to parties applicable in the application.
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Determining any outstanding claims against the business and satisfy those claims in order of priority set by law. i.e. Secured, Preferential and Concurrent Creditors.
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Finalising the Liquidation Order with the Master of the Court.
Please note that the fees below can be paid off over a negotiated term.
1. Liquidation Assessment - R0.00.
We will discuss next steps and provide a detailed explanation of the process as well as the costs.
2. Business Liquidations from R15,000.00. Based on various factors like Annual Turnover / Annual Return Filings / Outstanding Creditors/ Assets in the business/ Employee issues / SARS penalties.
3. For companies that are not currently compliant, we have add-on services to restore compliancy.
This must be attended to first before the Liquidation can proceed successfully.
4. When a Director signs personal surety for Business debt, the Director becomes personally responsible for that Business debt. We will discuss an additional solution that can write off 75% of that debt. You only pay back 25% of the debt owing. This is called Voluntary Surrender.
For a more information on Liquidation costs go to: What does Liquidation cost
Here is some more information?
Tell Us About Your Company
If you are facing the complexities of financial stress in your business, you can’t afford to do without the clear thinking of a legal expert.
Whether the winding up is voluntary or compulsory, you’ll benefit from our calm professionalism and track record.
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Consultation & Assessment Tailored for Your Situation
We discuss your needs in detail offering the best solution possible. An assessment will be provided to you explaining the process.
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Assign you to a Dedicated Legal Practitioner
We render trusted legal services by legal experts at the highest ethical standards ensuring the best possible outcomes and successes.
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We Will Guide You Throughout The Process
From the moment you start, we will guide you through the process, explain what we are doing and answer any questions you may have