How to liquidate your company when the directors are at war

I often come across situations where the directors of a company are at war with each other. Accusations and denials fly like bullets. There is relief available in law.

I owe this entirely to Telfer & Associates Inc, but felt that it is so valuable that I simply had to pass it on. I've snipped the crunch lines below, but if you want to know more, I suggest that you contact them directly 011 267 2600 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Just mention from where you got the lead. 

Liquidation

As Telfer & Associates point out, it is the last clause 3 that gives the courts very wide powers of discretion.

Note that they stronlgy suggest that every other means of settlement should first be explored, including and especially, mediation and, as an Internationally accredited financial mediator, I wholeheartedly agree. A skilled mediator can often work wonders in just one or two days and at a cost (currently about R30 000) that is negligible when compared to that of litigation.

Memberships

South African Institute of Chartered Accountants. Designation CA(SA)  Internationally Accredited Financial MediatorsIndependent Regulatory Board for Auditors. Designation RA<Engineering Council of South Africa. Designation Pr(Eng) Member of MENSA, the High IQ Society

 

 

 

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