Any experience with filing chapter 6?

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  • Slippy
    Full Member
    • May 2011
    • 31
    #1

    Any experience with filing chapter 6?

    Anyone have any knowledge in filing chapter 6? How long does the process take? Costs? Requirements for successful application?
    Tags: None
    • flaker
      Silver Member

      • May 2010
      • 419
      #2
      Just curious. is "chapter 6" an american term ot used locally as well?

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        • Justloadit
          Diamond Member

          • Nov 2010
          • 3518
          #3
          How long is a piece of string?

          If you are referring to a liquidation process, in my experience, there was no debtors outstanding, and I was the only creditor, it cost me R15,000.00 and took 3 days.
          Last edited by Justloadit; 24-Mar-12, 12:15 PM.
          Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
          Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

            Comment

            • Dave A
              Site Caretaker

              • May 2006
              • 22803
              #4
              Chapter 6 of the Companies Act (71 of 2008) is a chapter providing for business rescue and compromise with creditors. Haven't had much cause to study it myself as yet.
              Participation is voluntary.

              Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services

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