Insolvency

Marais Müller Hendricks Inc has extensive experience in advising clients on utilising the liquidation or sequestration process as an effective tool in debt and asset recovery. We represent major banks, large corporate institutions as well as medium and small businesses in applications to liquidate companies or close corporations and to sequestrate the estates of insolvent individuals or trusts.

Often this winding-up procedure is quicker and more cost-effective than instituting legal action against defaulting debtors, but requires careful consideration of the circumstances of each matter. We have also conducted numerous insolvency interrogations and investigations on behalf of both liquidators and creditors.

We have been successful in assisting clients to recover substantial “hidden” assets and in setting aside undue preferences and impeachable transactions.We often advise on and assist clients in the submission of claims against insolvent entities and also regularly advise liquidators and creditors on the validity and security ranking (preference) of claims submitted by creditors.

One of our directors have on a number of occasions successfully sued directors / members of liquidated entities who were held personally liable for the debts of the liquidated entities on the basis that they conducted the business of such entities recklessly or with the intention to defraud.