What does it mean to be sequestrated?

What does it mean to be sequestrated?

An individual can declare themselves insolvent, or bankrupt, and file for sequestration if their debt has become too great and unmanageable and their liabilities exceed his or her assets. Sequestration is defined as the surrender of an individual’s estate to the High...
How does a company get wound up?

How does a company get wound up?

A frequently asked question relating to Insolvency Law is how does a company get wound up? A company, like an individual, trust or partnership, can be wound up voluntarily or compulsorily. Voluntary winding up: A company or close corporation can wind itself up...
Eight grounds for Insolvency: Be aware!

Eight grounds for Insolvency: Be aware!

Insolvency is the state of being unable to pay the money owed, by a person or company, on time. To be sequestrated means that your assets are sold in order to pay your debt. Under current South African Insolvency Law, a person can be sequestrated either voluntarily or...
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