Individuals or businesses usually reach the stage of insolvency when they are incapable of paying their debts as and when they arise; or when ones liabilities exceed their assets.
In these tough economic times, companies are increasingly facing financial distress. Creditors of such companies are often unsure about how to deal with such companies, and the options open to them from a legal perspective.
Our team is able to advise business rescue practitioners, directors, stakeholders, employees and creditors during all stages of the business rescue process. Our approach is proactive and focuses on creditors in a way that ensures that they achieve maximum returns in the business rescue process.
If the business rescue process is not recommended or fails, the MVN team is able to assist all stakeholders, including liquidators and creditors during the liquidation process.
The services provided include the following:
- Advising on the administration of the insolvency process, including proof of claims;
- Advising on the general moratorium on legal proceedings against the company that has filed for business rescue;
- Appointments of liquidators and trustees;
- Business restructuring;
- Debt restructuring and securitisation;
- Drafting and structuring of agreements;
- Insolvency and business rescue advice to all relevant parties;
- Insolvency enquiries;
- Insolvency litigation;
- Provide support on forensic legal issues arising from liquidation proceedings;
- Recovery of assets;
- Risk management;
- Viability assessments; and
- Voluntary and compulsory sequestrations.