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Source
Source
Release date
September 2023
More information
Region
South Africa
Survey time period
January 2020 to August 2023
Supplementary notes
Compulsory liquidation is a procedure where the assets of a company/close corporation are sold to pay off creditors. The residual assets will then be distributed between the shareholders and finally, the company will be closed.
Voluntary liquidation occurs when the shareholders of a company/close corporation decide to close the company on their own terms after passing a special resolution undertaking that the company/close corporation is to be liquidated.
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