Liquidation and sequestration
“Sequestration”, “bankruptcy”, “insolvency” and “liquidation” are all different terms that simply mean that a person or business is unable to pay their creditors. The term liquidation refers to the bankruptcy of a company or close corporation, while sequestration refers to the bankruptcy of a natural person or a trust. Another term, surrender of estate, refers to the process where a natural person asks a court to declare him or her insolvent.
In the event of a company going into liquidation or private individual going into sequestration, SVG Legal will gladly handle the proceedings and walk you through the process in an effort to recover a dividend on behalf of yourself.
We also provide the service of liquidating or sequestrating either a company or private individual, should this be the best option to recover an outstanding amount.
SVG Legal has a team of sequestration lawyers that has extensive experience in advising clients on following the liquidation or sequestration process as an effective tool in debt and asset recovery.
The process is often a quicker and more cost-effective option than instituting legal action against defaulting debtors. However, it requires careful consideration of the circumstances of each case.
SVG Legal has a record of successfully assisting clients to recover significant hidden assets. SVG Legal advises and assist clients to submit claims against insolvent entities. We also consult with liquidators and creditors on the validity and security ranking of claims submitted.
The corporate liquidation process is often conducted through a High Court application and SVG Legal will take care of all the necessary steps to ensure you don’t have to worry about a court appearance, regardless of whether you are the liquidation applicant or a creditor that needs to recover assets.
SVG Legal’s team of sequestration lawyers has knowledge of the processes relating to all industries. We are available for appointment as liquidators for parties on either side of the liquidation process – both solvent and insolvent companies.
For more information and to find out how we can assist you, get in touch with SVG Legal today.