Restoring business confidence

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Erick Breytenbach Attorneys Inc

Erick Breytenbach Attorneys Inc

Specialists in recovering overdues for Trade Creditors 1996/002344/21

发布日期: 2023年9月12日

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• Companies are run by its principals.
• Some principals apply for credit facilities when they are aware or should know that the company will be unable to pay if called upon.
• In the absence of a suretyship obligation, principals are normally not personally liable for the debts of a company.
• Business certainty can be restored if the CIPC rejects applications to register new companies if the principals were previously involved in a failed business within, say, a two-year period.
• A failed business can be classified as one with a default listing, judgment and/or one that has been liquidated or placed under business rescue.

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