Liquidation

Liquidation by application from a creditor?

This is a proses where one of the creditors may approach the High court, with an application, seeking the liquidation of the company in debt. This could be a costly proses and the applicant company must take make sure that they are not liquidating an empty shell, as it could be costly and they might end up paying the contribution in the liquidated companies estate.

This is also a specialized field and it would be advisable to seek provisional assistance before seeking this remedy

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