LIQUIDATION – SIMPLE – HOW TO DO IT
- Submit your Liquidator Nomination Form - You need to have submitted your LIQUIDATOR NOMINATION FORM by 10h00 South Africa time, on 4 Jan 2021. Late submissions will not be accepted.
- 11h00: Pretoria
- 04H00: New York
- 09h00: London
- 18h00: Tokyo
Liquidators recommended by RAG:
1. Company Name: Sebenza Trust/Liquidation Experts
- Form: https://liquidationspecialis.wixsite.com/sebenzatrust
- Quick Direct link to Requisition Form: https://getaquid.com/ePos-inLig/Sebenza-Requisition-Form.doc
- Send to: email@example.com
2. Company Name: Investrust Insolvency Practitioners
- Form: https://bit.ly/382Lq54
- Quick Direct link to Requisition Form: https://getaquid.com/ePos-inLig/REQUISITION-Invest-Trust-van-Rooyen.pdf
- Send to: firstname.lastname@example.org
3. Company Name: Tygerberg Trustees
- Form: https://1drv.ms/u/s!Ap8SKor10WWloOJK_R70sB8-3mdv2w?e=hC8YpV
- Quick Direct link to Requisition Form: https://getaquid.com/ePos-inLig/Requisition-MTI-Tygerberg-Trustees.docx
- Send to: email@example.com
2. Appointment of the Liquidator
The Liquidator is appointed by the Master of the High Court in terms of the Requisitions received from the Creditors. More than one Liquidator can be appointed. The Master of the High Court has the discretion to make a discretionary appointment.
We do not know when the Liquidator will be appointed but it should be imminently. The RAG website will be updated with the relevant details on receipt.
3. How does a creditor ensure that he/ she receive information from the liquidator about the winding up process?
RAG will keep the creditors updates with the relevant development on the case via updates on the RAG website.
You can also contact the Liquidator's office, requesting to be added to the relevant creditor's mailing list.
4. What is the purpose of a First and Second Meeting of Creditor’s.
The purpose of the meetings are to provide creditors’ claims and to vote on important issues such as the Appointment of the Final Liquidator as well as to provide the Liquidator(s) with directions (i.e. whether to institute legal action) and to interrogate witnesses.
RAG will keep the creditors updated on the status of events. Due to the magnitude of the case, geographic diversity of the creditors and COVID restrictions, meeting of the creditors may need to be adapted to cater for the specific conditions.
5. Do I have to submit a claim after signing the Requisition?
6. What about court actions pending against the company?
All Legal action stops immediately once Liquidation proceedings have been instituted.
Any further questions? Please use the COMMENTS SECTION BELOW.