130 years in practice
Richards Bay, KwaZulu-Natal
Suite 27, Calypso Centre, 2 Krugerrand Grove Road, Richards Bay
+27 (0)35 7807250 Docex: 7 Richards Bay
34 years in practice
Richards Bay, KwaZulu-Natal
Unit 8, Palm Court Building, 13 Lira Link, Richards Bay+27 (0)35 780 7200
22 years in practice
Richards Bay, KwaZulu-Natal
Unit 19, First Floor, Partridge Place, Cnr Link & Tassel-berry, CBD, Richards Bay+27 (0)35 789 93213 of the 7 firms in our Richards Bay directory list insolvency as one of their practice areas (43%). Shepstone & Wylie has been practising the longest, at 130 years, followed by Duvenage Inc and Lambert & Associates. All of them have a full profile on our site, with their people, history and the courts they use.
When debts can no longer be paid, insolvency law offers a structured way out. Individuals may apply for voluntary sequestration under the Insolvency Act 24 of 1936, companies can be liquidated, and struggling businesses may be placed in business rescue under Chapter 6 of the Companies Act. An insolvent person can later apply for rehabilitation.
Sequestration applications are brought in the High Court, while debt review runs through a registered debt counsellor under the National Credit Act. For people in Richards Bay, the court is the KwaZulu-Natal Division of the High Court, which sits in Durban (about 155 km away).
Sequestration applies to individuals and partnerships, while liquidation applies to companies and close corporations.
A process under the Companies Act that gives a financially distressed company temporary protection from creditors while a practitioner tries to rescue it.
Use the list above to compare firms in Richards Bay that handle sequestrations, liquidations or business rescue.
