Company Closure & Winding Up

Closing a company is a decision that can be both complex and emotional. We guide you through every legal step.

Rules on Bankruptcy, Reconstruction and Winding Up

Regardless of the reason for closure — economic challenges, changed market conditions or personal reasons — there are legal procedures to follow. We help you understand and navigate these.

Closure Options

Bankruptcy

A legal procedure where the company is declared insolvent. Assets are administered by a trustee who distributes proceeds to creditors.

Reconstruction

Attempting to restore the company's financial health by restructuring debt, renegotiating agreements or making other business changes.

Voluntary Winding Up

An orderly dissolution of a solvent company where assets are realised and distributed to shareholders after all debts are paid.

Key Considerations

Follow all legal procedures to avoid personal liability.

Notify all creditors and settle outstanding obligations.

File all required documents with the relevant authorities.

Ensure proper tax clearance before final dissolution.

Maintain proper accounting records throughout the process.

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