RECEIVERSHIP
Our experienced insolvency practitioners are routinely appointed by secured creditors (banks and credit acquiring companies) as receivers and managers of debtor companies.
We have extensive experience in trading and selling businesses as going concern, conserving business goodwill value for creditors and other stakeholders.
We have extensive experience in managing real estate assets, including coordinating procedures for the issuing of separate title deeds in development projects and handling conflicting claims on assets, such as claims from buyers of units which remain mortgaged.
In many receiverships the tax department is a major creditor with “ransom” power over assets because a tax clearance is required to enable their transfer. In our experience, insolvent companies rarely comply with tax requirements, treating the tax department as a lender of last resort, amassing disproportionate amounts of tax liabilities. Our team has extensive experience in negotiating and agreeing repayment plans with the tax department, so that realisation of assets is beneficial to secured creditors.