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The debt comparison table shows which unsecured debts bankruptcy will cover.A secured debt is tied to specific property, like a house.The process is usually instigated with a winding up petition which is heard at court.This procedure is often used as a last resort by disgruntled creditors after failed negotiations.

First, a liquidator is appointed, either by the shareholders or the court.At SA Insolvency, we help individuals and businesses find the right solutions to the financial challenges they are facing.Working alongside you and, where appropriate, your existing advisors, financiers and business partners, we will guide you through the full range of options available to achieve the best possible outcome for you.Liquidations are also classified according to whether the company is solvent or insolvent.If the company is insolvent, this means it is unable to pay its debts as they fall due.The company is struck-off the registrar of companies and this is known as dissolution, which is the final stage of the liquidation process.

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