Services to Companies

Independent Trustees is one of the most respected and experienced business recovery and insolvency practitioners in South Africa. We understand the financial problems that companies may experience and endeavour to find corporate recovery solutions where possible.

We have a solid understanding of the Insolvency Act, Companies Act, Close Corporations Act and related legislation.

The legal principles are vast and complex. The sooner we arrive at the scene of the corporate accident, the better the chances of any recovery.

Our services include the following:

Corporate Recovery

We review the financial position of a business and aim to find a recovery plan and a way for the business to become profitable.

Section 311 Arrangement / Re-organistation

It may be possible to restructure a company's affairs without the need of liquidation. We can assist in formulating a plan and attend to negotiations with creditors. We have vast experience in giving effect to the provisions of section 311 of the Companies Act. If necessary, we facilitate and advise on the sale of the whole or part of the business.

Voluntary Winding Up

Companies often need to be placed in members’ or creditors’ voluntary winding up in terms of the provisions of the Companies Act. We are experienced in the drafting of documents, registration of the resolutions and the actual winding up process.

Liquidation

Where a business cannot be saved and liquidation is inevitable we are able to advise the directors, shareholders and creditors on the procedure and we also act as Liquidators.

General Advice to Company Director

Section 424 of the Companies Act, when trading under insolvent circumstances, may lead to personal liability for the company’s debts. We are able and qualified to advise directors on the steps necessary to protect their interests as well as those of their creditors.