The liquidator represents the interests of all creditors.
The liquidator supervises the liquidation, which involves collecting and realising the company's assets (turning them into cash), discharging the company's liabilities, and distributing any funds left over among the shareholders in accordance with the company's constitution (or the COMPANIES ACT 1993 if there is no constitution).
carbon dating does not work - Liquidating a cc
For example, a party who had a valid contract for the purchase of land against the company may be able to obtain an order for specific performance and compel the liquidator to transfer title to the land to them, upon tender of the purchase price.
After the removal of all assets which are subject to retention of title arrangements, fixed security, or are otherwise subject to proprietary claims of others, the liquidator will pay the claims against the company's assets.
The respondent be and is hereby placed under provisional liquidation. All persons who have a legitimate interest are called upon to put forward their reasons, if any, why this Court should not order the final liquidation of the respondent on the return date on 5 SEPTEMBER 2017. A copy of this order be served on the respondent at its registered place of business and on the employees and trade Unions of respondent, if any, and published in Government Gazette and Pretoria Newspaper. Costs of this application be costs in the liquidation.
BY THE COURT REGISTRAR (10726457) IN THE HIGH COURT OF SOUTH AFRICA (GAUTENG DIVISION, PRETORIA) Case No: 14074/2017 PRETORIA 02 JUNE 2017 BEFORE THE HONOURABLE MR JUSTICE BRANDAJ In the matter between WELATHISHA INVESTMENT (PTY) LTD 1st Applicant and NATIONAL TEACHERS UNION Address: No.
Before the claims are met, secured creditors are entitled to enforce their claims against the assets of the company to the extent that they are subject to a valid security interest.
In most legal systems, only fixed security takes precedence over all claims.
In the lifecycle of the CC, it may cease to operate and wish to be deregistered or it may be dissolved as a result of liquidation.
These situations are usually quite complicated and technical and specialist information should be sought.
Deregistration implies that a business may choose to deregister (e.g. First confirm the status of the CC with the office because an application may have been lodged by the Receiver of Revenue for the CCs deregistration.
cease to be registered as a CC) and is able to pay its debts. If it is confirmed that it is deregistered, the following procedure for restoration should be followed: If there was any fixed property owned by the CC, a written confirmation must be obtained by the Department of Public Works as well as the Department of State Expenditure that they have no objection to the CC being restored.
JOCHEN ECKHOFF, Summit Trust, PO Box 32152, Camps Bay, 8040. (10726578)IN THE HIGH COURT OF SOUTH AFRICA, GAUTENG DIVISION, PRETORIA Case No: 35264/2017 PRETORIA 17 JULY 2017 BEFORE THE HONOURABLE MADAM JUSTICE KUBUSHI In the matter of ORAMBAMBA 39 (PTY) LTD REG NO: 2009/022844/07 Applicant SCENIBLOX (PTY LTD REG.