Insolvency Law

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GCM LEGAL has extensive experience in insolvency (sometimes called “bankruptcy”) and restructuring issues that affect individuals and companies.

Insolvency is not only for a financially distressed company or individual, but it is also invaluable to commercial restructuring and streamlining.

Insolvency for an individual is called “sequestration” and for a company is called “liquidation”.

There are 2 principal forms of insolvency: friendly/voluntary and hostile.

Insolvency and litigation are often cross-over areas of practice.

Our Insolvency Law Services Include

Sequestration

  • Compulsory sequestrations
  • Voluntary surrender and friendly sequestrations
  • Application for sequestration of a third party (Section 9(1) application)
  • The effect of sequestrations
  • The return of assets that have been incorrectly disposed of by an insolvent (voidable dispositions)
  • The trustees of an insolvent estate
  • The creditors of an insolvent estate
  • Rehabilitation

Liquidation

  • Voluntary liquidation / winding-up
  • Liquidation by a Court (Compulsory/hostile winding-up)
  • Effect of a liquidation order
  • Process after liquidation order is obtained
  • Provisional and final liquidators
  • Proof of claims
  • Liquidation and distribution account
  • Reckless trading
  • Voidable dispositions

Business Rescue

  • How to enter into business rescue
  • Effect of business rescue
  • The business rescue plan
  • Termination of business rescue

Other Practice Areas

Commercial Law

The rights, relationships, and conduct of individuals and businesses engaging in commerce, trade, sales and merchandising.

Private Law

The rights an individual has and how an individual can protect these rights (e.g. protect and secure their assets).

Litigation

The process of seeking relief from the Courts (or other authorised institutions) by initiating legal proceeding.

Estates, Wills & Trusts

Solutions to plan and protect your Estate and assets including drafting Last Will and Testament, registration of Trusts.

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Insolvency

Solutions for financially distressed companies and individuals that need a fresh start or efficient restructuring.

Property & Conveyancing

Transferring ownership of properties and solutions to disputes relating to properties.

Insurance Law

Resolutions and litigation involving issues relating to insurance, including insurance policies and claims.

Road Accident Fund

Have you or someone you know been effected by an accident involving a motor vehicle?  Trust GCM Legal to handle your RAF claim.

Need to Consult?

Send us a message about your matter and we will let you know how we can help.

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Insolvency Law

Glossary of Legal Terms

Glossary of Legal Terms

This article will provide explanations for many of the legal terms and words you will find on this website.

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Further reading on GCM Legal Wiki

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