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Breyten Potgieter

Voluntary Sequestration Process

Voluntary Sequestration Process

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Sequestration Definition Voluntary Sequestration Process is a legal process by which you are declared insolvent by an order of the High Court of South Africa. The effect of a sequestration order is that your debts (in layman’s terms) are written off. In legal terms, your debt vests on a Trustee, that needs to sell your…

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Sequestration South Africa

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Sequestration A sequestration application is the legal mechanism, in South Africa, if you want to declare bankruptcy as an individual. History of Sequestration in South Africa Sequestration is almost as old as mankind itself. In difficult times the Jews had a law in terms whereof a creditor was obliged to write off a debtor’s debt if…

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sequestration

Sequestration Process

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Sequestration Process The sequestration process is laid out in the Insolvency Act and has very clear guidelines about formalities that needs to be adhered to before you can bring a sequestration application. All of the formalities are however handled by your Attorney.   TO GO UNDER SEQUESTRATION THE FOLLOWING NEEDS TO BE DONE: 1. Consult…

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VOLUNTARY LIQUIDATION PROCESS

Voluntary Liquidation Process

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VOLUNTARY LIQUIDATION PROCESS The voluntary liquidation process refers to a process where either the members of a company of the creditors of a company liquidate the company by consent. The objective of the creditors and the debtor in this instance is exactly the same.  Opposite to this process, there is a so-called compulsory liquidation process. …

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VOLUNTARY LIQUIDATION PROCESS

Voluntary Liquidation Definition

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VOLUNTARY LIQUIDATION DEFINITION The word voluntary liquidation refers to the fact that either the members of a CC / Directors of a company can liquidate the company by way of a voluntary liquidation.  The creditors of a company can also liquidate a company via a voluntary liquidation.  It is interesting to note that there are indeed…

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SEQUESTRATION ATTORNEYS

Sequestration Attorneys

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SEQUESTRATION ATTORNEYS When you owe money and the realization that you are unable to pay your debt settles in, you would normally go through the following phases: You try to raise additional finance. You consider ways and means to increase your income. You cut all luxuries from your budget and you eventually cut necessities from your budget.…

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Liquidation South Africa

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LIQUIDATION SOUTH AFRICA The New Companies Act of 2008 brings liquidations in South Africa more in line with countries like America, Canada and England.  Because the New Companies Act places a heavy burden on company Directors to ensure that their companies does not carry on business recklessly, gross negligence or intend to fraud or specifically…

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Liquidation Process

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LIQUIDATION PROCESS The liquidation process can be broken down into three separate processes. PRIOR TO THE LIQUIDATION PROCESS In the first instance, you must determine whether liquidation is indeed the correct option.  To determine this, you should consider a lot of other factors whether your company will lose its vendors listing, BEE status, long term…

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Debt Consolidation Loans South Africa

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DEBT CONSOLIDATION LOANS Debt Consolidation Loans are widely used in South Africa. Many consumers in South Africa consolidate debt because they think it would ease the monthly debt installments. What is Debt Consolidation Loans Simply put, it is a loan that combines all debt loans, into one consolidated loan with a financial institution. Problems with Debt Consolidation…

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Breyten Potgieter

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Breyten Potgieter started working at Danie Potgieter Attorneys in 2004. He has subsequently obtained his LLB degree and was admitted as an Attorney. During 2011 Breyten became a Partner of Danie Potgieter Attorneys. Currently he is busy with a Diploma in Advance Insolvency Litigation and Administration. Breyten has advanced experience in Insolvency Law, Corporate Structuring, Corporate…

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