Independent Trustees is one of the most experienced business recovery and insolvency practitioners in South Africa.
We have vast experience in working with people from all sectors of business, including all major banks. Independent Trustees have expanded their services to banks to include services other than liquidations only.
The Pre Liquidation PhaseLiquidation should always been seen as the last resort. E.g. together with a bank, its client and the client's attorney, we, through "teamwork", procure solutions where buyers, for the business and its assets, are found and where both the bank and the client benefit.
During this phase our objective is to establish:
- the current financial position
- viability of the business
- short-term funding requirement for the project
- existing and projected security values and options
- recommend an action plan
The recent high profile corporate failures where banks had huge exposures necessitate a good relationship between banks and liquidators. When a bank’s interest is at stake, it sometimes requires special expertise to salvage the situation.