You might have some questions…
Have a look at our answers to frequently asked questions below:
What is insolvency and how do I know if my company is insolvent?
Insolvency occurs when a company cannot pay its debts as they fall due or when liabilities exceed assets. Our team can assess your financial situation and guide you through the next steps if insolvency is declared.
What happens during a liquidation process?
During liquidation, a company’s assets are valued and sold to settle outstanding debts. The liquidator manages the process, ensuring compliance with legal requirements and distributing the proceeds to creditors.
How does corporate restructuring benefit my business?
Corporate restructuring helps improve efficiency, reduce debt, and restore financial stability. It can prevent liquidation by reorganizing operations, renegotiating debts, or merging with other businesses.
What is business rescue and how does it differ from liquidation?
Business rescue is a process designed to restructure a financially distressed company to continue trading on a solvent basis. Unlike liquidation, where a business is closed, business rescue aims to save the company.
Who qualifies for business rescue?
Companies in financial distress that still have the potential for recovery can apply for business rescue. CK Trust will assess your company’s viability and connect you with a qualified Business Rescue Practitioner.
What is the role of a Business Rescue Practitioner?
A Business Rescue Practitioner is appointed to manage the business rescue process. They assess the company’s financial status, develop a rescue plan, and negotiate with creditors to ensure the company’s continued operation.
What are my rights as a creditor in a liquidation or business rescue?
As a creditor, you have the right to be informed about the process, submit claims, and vote on certain decisions. CK Trust ensures that creditors are kept up-to-date with clear communication and access to essential documents.
Can individuals file for sequestration?
Yes, individuals facing overwhelming debt can apply for voluntary sequestration. CK Trust guides individuals through this process, helping to settle debts and providing relief from creditor pressure.
How do I book a consultation with CK Trust?
Booking a consultation is easy. Simply click the “Book a Consultation” button on our website, fill out your details, and one of our professionals will contact you to schedule a meeting.