SEQUESTRATION | LIQUIDATION

Our current economic situation in South Africa is in a state of decline to an extent that many consumers are being left retrenched or unemployed.  

What happens in such a situation is that a consumer is left without a plan and starts neglecting and faltering on their debt repayments.

Business owners may find that their businesses are not profitable and are unable to repay loans and creditors in time or at all.  

An individual may apply voluntarily to have their estate sequestrated and a legal entity such as a company or close corp may apply to be liquidated.

In both, creditors will receive a percentage of the total debt owed to them.