Liquidation filings are on the increase globally and in South Africa. The economic downturn reflects an increase in corporate failure as well as in companies trading in financial difficulties. The Business Recovery, Insolvency & Restructuring team handles all aspects of liquidation, insolvency and restructuring matters for a wide range of clients, including banks, parastatals, financial institutions, corporate creditors and liquidators.
Cross-border recovery skills are key. The team’s expertise extends into African countries and international jurisdictions, with proceedings having been successfully instituted in many countries around the world.
The team often advises directors who find their company trading in what may be insolvent circumstances. Advice includes ensuring that directors are not subject to claims for personal liability due to reckless trading.
Another core strength is providing advice on forensic legal issues. This is critical when dealing with liquidations of companies, corporate and commercial fraud and reckless trading matters.
In advising directors, stakeholders, liquidators and creditors, the team is able to assist during all stages of the litigation process, including providing support in the conduct of insolvency enquiries, as well as guiding clients on strategic decisions such as embarking on the winding-up process as an alternative to litigation.
In addition, the team advises clients on obtaining satisfactory security for financing and lending transactions. Advice is also provided on the complex issue of the taking of security in insolvent circumstances.
Naturally, speed is of the essence in insolvency, turnaround and business recovery matters, but it is equally important to ensure the integrity of the processes followed. To achieve the best balance, our team has a proactive work ethic that focuses on extracting the maximum value for creditors in this process. Download our practice area overview
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