- The Companies Act 61 of 1973 (Companies Act) provides a mechanism, in the form of sections 417 and 418, to enable liquidators to investigate the affairs of an insolvent entity.
- However, the very people who are responsible for the (mis)management and financial ruin of a company are often the only people who have knowledge of the workings of the company prior to its liquidation, such as directors and other officers, and are, for this very reason, reluctant to assist the liquidator voluntarily and tend to be recalcitrant witnesses.
- In light of the increasing number of enquiries that seek to ascertain insolvent companies’ assets and liabilities in order to recover the assets and pay the liabilities of the entity,…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
