C&A Friedlander Attorneys

Voluntary liquidation via our courts? Think again.

Amidst the financial turbulence of South Africa’s economy at present, questions often arise for stakeholders of companies in financial difficulty regarding the mechanisms at their disposal to liquidate the company to realise its assets. Often attorneys are approached to assist with the preparation of voluminous voluntary liquidation applications to the courts when a decision is […]

What is a letter in terms of section 345 of the Companies Act 61 of 1973?

A letter in terms of section 345 of the Companies Act 61 of 1973 (“the Act”) demands payment from a juristic debtor and reserves the right to launch a liquidation application against the company if it fails to repay the debt within 3 weeks after it has been served on its registered address. If the […]

The importance of liquidation amid COVID-19

Written by: Nadia Gava COVID-19 has had a devastating impact on South African businesses, leaving many with no option but to liquidate. Liquidation is a last resort for a company struggling to stay afloat and is not a step that should be taken lightly. The purpose of liquidation is essentially to wind up the company […]

When the liquidator comes knocking

Here is the scenario, you render services for company X, company X receives the service and makes payment. Happy days, the business has some money in the bank and now you can move on to the next job. A few months go by and you receive an email which advises you that company X was […]

When not to institute Liquidation proceedings when a debt is due…

Liquidation proceedings are usually, and should as rule be, instituted when a debtor company is unable to pay its debts as they become due. However, liquidation proceedings should be carefully considered, as opposed to action proceeding (Summons), for the collection of a debt. The law differentiates between two types of insolvency, namely factual and commercial […]