Death is a part of life. Insolvency is a part of commerce. The question is how to deal with it. A company well advised in its trade, Ts& Cs and debtor handling can seriously reduce the risk.

In order to put its client into the best possible position, the firm is advising (and assisting), inter alia:

  • Directors as to trading in what may constitute insolvent circumstances
  • Directors, whether or not a company should go into business rescue
  • Creditors, whether or not they should make application for business rescue as opposed to liquidation
  • Creditors, whether or not to oppose business rescue proceedings
  • Creditors in attending meetings and dealing with their claims and securities in business rescue
  • Liaising with and between the business rescue practitioner/s and existing directors/shareholders
  • Creditors, in relation to the provision of post commencement finance
  • Creditors and directors on the general moratorium on legal proceedings after filing for business rescue.
  • Creditors regarding their protection of property interests
  • Creditors and directors on the effect of business rescue on contracts
  • Shareholders and directors on the essence and consequences of remuneration arrangements for the business rescue practitioner
  • Shareholders and directors on the structure, implementation and approval of the business rescue plan
  • Shareholders and directors dealing with a compromise between the company and its creditors
  • Creditors and directors on the commencement and administration of the insolvency process including proof of claims
  • Creditors and liquidators on cross-border recognition of liquidations and liquidators, provisional or final
  • Creditors and liquidators on the attachment of assets in foreign jurisdictions
  • Creditors, shareholders and directors on liability issues relating to trading recklessly or in insolvent circumstances
  • Creditors, shareholders and directors on trading without regard being had to the Business Judgment Rule or the Solvency Test
  • Creditors on providing support in forensic legal issues arising from liquidation proceedings
  • Creditors in respect of recovery of assets in the liquidation scenario
  • Creditors on sequestration proceedings or hand-over of one’s Estate for natural persons
  • Creditors and liquidators in respect of the approval and implementation of insolvency enquiries
  • Creditors, liquidators and trustees as regards recovery of assets disposed of by the debtor
  • Shareholders and directors on their role in all these processes

Team specialist

Kay Schröder

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