Welcome to SAFTrust

In simple terms, a Liquidator is:
"A Person who is suitably qualified to act in the process of "Winding Up" the Estate of a Company, Close Corporation, Entity, or Person"

All too often, the Members of a Business tend to struggle on for months, either ploughing more and more capital into the Business, or worse, borrowing up to the hilt.

At SAFTrust we welcome anybody who seeks advice in this regard. We will advise them exactly what measures to take to try and avoid Liquidation, or to assist them through the process as painlessly as possible. (see below)

The Answer is "Yes".

1. When the Members of any Entity see that their Business is in financial difficulty, they are entitled to aproach a Liquidator who will assist them in filing a Resolution for a Voluntary Liquidation with CIPC.
   
   SAFTrust will explain the various steps, and guide you through the process.


2. Alternatively, when a Creditor loses patience with their Debtor, they have the option to make an Application for Liquidation to the High Court.
   
   This can be a very effective way of collecting oustanding monies, but please be aware that the amount recovered may well be cents on the rand, rather than the full amount.
   
   Please note that this Application has to be seen as "Just and Equitable", and is not an option if the amount outstanding is in dispute.
   
   For professional advice in this regard, SAFTrust welcomes your enquiry.

It is normal for either the Members of an Entity or the Creditor, either having already approached a Liquidator, to "Support" that Liquidators appointment.

The Creditor's "Support" is by way of a Requisition which has to be filed at the Master's Office together with documented details of their "Claim". This applies to every bona fide Creditor of the Estate.

The Master will then appooint the Liquidator who has the most support on a Provisional basis. A second Liquidator on the Master's Role will also be appointed as a matter of course to ensure that the process is credible.

The Provisional Liquidators will then prepare their report on their preliminary findings which they will present to the first meeting of Creditors.

At that time , the Liquidators' appointments will normally be confirmed and the Liquidators will start their enquiries into the affairs of the insolvent Estate.

It is important to note that a Liquidator's primary role is to realise the maximum

The Liquidator has the power to employ the services of either a Forensic Investigator, or a Finacial Investigator to investiagste any of the allegations that may be made.

Should those investigations find grounds for concern, the Liquidator will have the right to hold a formal "Enquiry". Both Witnesses and Evidence can te be subpoened to aooear befor a Commissioner. Any testimony given will be under oath and legally binding on the Witness.

At SAFTrust we have our own team of specialists to undertake this task with a track record of success in their various fields.

Please send us an email to info@saftrust.co.za if you wish to avail yourself of this service.