In the commercial marketplace things do not always go to plan. Even an otherwise healthy and well-run business can face problems for reasons beyond its control.
When a business is in financial difficulty remedial measures are best taken early. It is possible to seek assistance from an expert and seek voluntary arrangements with creditors, for example, to cure business defects and trade out of difficulty. It is also possible to apply for restructuring proceedings, where the legal requirements are fulfilled.
A Company may be declared bankrupt by application of the company itself or one of its creditors, if the legal requirements are met. When an order of bankruptcy is issued, a debtor will hand over control of the business property to the trustee/administrator.
Our experts have wide-ranging experience in voluntary procedures as well as bankruptcy and restructuring proceedings. Our experts have acted in several bankruptcies as trustees/administrators and in restructuring proceedings as administrators, in addition to handling the voluntary procedures of several businesses.
We typically assist our clients, for example, in the following matters:
- Financial rejuvenation and funding arrangements
- Statutory reorganisation
- Serving as liquidator
- Recovery of claims
- Demand for payment with bankruptcy threat
- Serving as administrator
- Litigation relating to bankruptcy
- Recovery proceedings