Voluntary Liquidation: A Smart Way to Simplify and Save

For many company directors, the word liquidation immediately triggers thoughts of financial ruin, unpaid creditors, and reputational damage. It is often viewed as a last resort. A painful process that marks the end of commercial ambition. Yet, this perception overlooks the fact that liquidation is not always a symptom of failure. When applied strategically, voluntary […]

Once-Off Loans and the National Credit Act: When an Acknowledgment of Debt Becomes a Credit Agreement

In April 2023, a borrower formally admitted owing a sum of R1,209,600 to a lender by signing an Acknowledgment of Debt (AOD). Two individuals, Motlhopesi and Morwadi Phekola, stood surety for the debt. The borrower undertook to settle the amount by 31 May 2023, failing which interest at 20% per month would accrue. When payment […]