23/06/2026
Insolvency & liquidation
NEED HELP OR ADVICE? ASK THE EXPERTS.
(011) 867-5723 | [email protected]
https://www.vsbattorneys.co.za/insolvency-liquidation/
Once a company is unable to meet its outgoing debts as and when they fall due, or if its liabilities outweigh its assets, it is classified as insolvent. Company liquidation is a process in which a business closes, and its assets are distributed to creditors and/or shareholders in order of priority and after having conducted meetings with them. This process can be forced, or the company can opt to enter into voluntary liquidation even before the Company is deemed insolvent. At the end of the liquidation process, the company ceases to exist and it is the duty of the appointed liquidator to ensure that all the company’s affairs have been dealt with properly.