Finding Solutions for Financial Distress
Insolvencies & Restructuring
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What is Insolvencies & restructuring?
Facing financial difficulties can be overwhelming, but you don’t have to navigate them alone. Insolvency and restructuring are legal frameworks designed to address financial hardship for both individuals and businesses. At Engelsman Magabane Incorporated, our skilled team offers comprehensive legal guidance to help you explore your options and achieve financial recovery.
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South African Law and Insolvencies & Restructuring
South African law recognizes two main options for dealing with financial distress: insolvency and restructuring. Insolvency, often referred to as liquidation, involves selling a debtor’s assets to settle outstanding debts. Restructuring, on the other hand, aims to revive a financially struggling business by reorganizing its finances and debts to achieve long-term viability.
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The Process of Insolvencies & Restructuring
The specific process depends on whether you’re dealing with insolvency or restructuring. Here’s a simplified breakdown:
- Insolvency: The process typically involves a court order, appointing a trustee to oversee the sale of assets and the distribution of proceeds to creditors.
- Restructuring: This can involve various approaches, such as negotiating debt settlements with creditors, extending repayment terms, or restructuring the business model. A business rescue plan is often developed and presented to creditors for approval.
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Consultation Process
At Engelsman Magabane Incorporated, we understand the complexities of insolvency and restructuring. We offer:
- Expert Analysis: Our team will meticulously analyze your financial situation to determine the most suitable course of action, considering insolvency or restructuring options.
- Skilled Negotiation (Restructuring): We can negotiate with your creditors on your behalf to reach favorable debt settlements and restructuring agreements.
- Court Representation (Insolvency): If court involvement is necessary, our experienced attorneys will represent you effectively and protect your interests.
- Financial Expertise: We can connect you with financial professionals to develop a sustainable restructuring plan, if applicable.
- Clear Communication: We will keep you informed throughout the process and address all your questions promptly.
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Why Choose Engelsman Magabane Incorporated?
Choosing Engelsman Magabane Incorporated provides several advantages:
- Experienced Legal Team: Our team possesses in-depth knowledge of insolvency and restructuring laws and extensive experience guiding clients through these processes.
- Client-Centered Approach: We understand the emotional and financial stress of financial difficulties and offer a supportive and results-oriented approach.
- Exploring All Options: We will analyze your situation and present all available options, including insolvency and restructuring, to help you make an informed decision.
- Protecting Your Interests: Whether navigating insolvency or restructuring, we prioritize safeguarding your rights and maximizing your financial recovery.
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FRANKEL ENGELBRECHT
B.Com LLB University Of Stellenbosch
Janine Snyders
LLB. LLM University Of The Free State
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Have Questions?
Don’t let financial challenges define your future. Contact Engelsman Magabane Incorporated today. Schedule a consultation to discuss your situation and explore your options with our experienced team.