In practice in Menlo Park since 2012
Sequestration, rehabilitation, business rescue and liquidation for people and businesses under financial pressure. Larisa Myburgh has run her own practice in Menlo Park since 2012, and she is the attorney who reads your file, drafts your papers and picks up the phone when you call.
When the debt has grown bigger than the salary, you don't need a lecture or a list of legal terms. You need someone to look at the numbers, tell you which options are real, and then do the work.
That is what this practice does. Larisa looks at what you owe, what you own and what comes in each month, and tells you straight whether sequestration is the right step, whether your company can be rescued or should be liquidated, or whether another route makes more sense for you.
You deal with her from the first call to the final order. There is no hand-off to a junior and no call centre in between.
2012
In practice since
14
Years in Menlo Park, Pretoria
1
Attorney on your matter, first call to final order
Sequestration and rehabilitation for individuals, business rescue and liquidation for companies, all handled personally by Larisa Myburgh from Menlo Park, Pretoria.
For individuals
For individuals and sole proprietors whose debts are more than they own. We prepare the application to the High Court under the Insolvency Act 24 of 1936, including the proof that surrendering your estate gives your creditors a real benefit, and we see it through to the order.
After sequestration
Rehabilitation brings the sequestration to an end and lifts the restrictions that came with it, including the bar on serving as a company director. It happens automatically ten years after sequestration, and in many cases you can apply to court sooner. We tell you when you qualify and bring the application for you.
An alternative to liquidation
For a company in financial distress with a reasonable prospect of being rescued. Under Chapter 6 of the Companies Act 71 of 2008, a business rescue practitioner supervises the company while a plan to restructure its debts is drawn up, and legal proceedings against it are put on hold in the meantime. We advise directors on whether the company qualifies, prepare the board resolution or court application, and work with the practitioner from there.
For companies
For companies that can no longer pay their debts as they fall due. A company can be wound up voluntarily by a special resolution of its shareholders, or by the court on application. We advise directors on which route applies, prepare the resolution or the application, and work with the liquidator once one is appointed.
Not sure which of these fits your situation? Working that out is the first thing Larisa does with you.
Arrange a consultation
These are the questions people usually ask first. Bring yours along as well.
Every answer depends on your own numbers, and Larisa will give you a straight one about yours.
Ask Larisa yoursTell us briefly what you owe and to whom. A phone call is enough to start.
What you owe, what you own and what comes in each month. From that we can tell you which route is open to you.
Court papers, Gazette notices, the statement of affairs and the Master's office. You sign where you need to and we handle the rest.
Once the order is granted a trustee or liquidator takes over the estate, and when the time comes we bring your rehabilitation application.
Sequestration is insolvency for individuals and sole proprietors, and relies on the Insolvency Act 24 of 1936. Voluntary surrender requires proving to the High Court that your liabilities exceed your assets and that surrendering your estate yields a proven monetary benefit to creditors (minimum 10 to 20 cents in the Rand). Liquidation is insolvency for corporate entities, governed by the Companies Act (Act 61 of 1973 for the insolvency mechanics, Act 71 of 2008 for the solvency tests). A company can be liquidated voluntarily by a special shareholder resolution, or compulsorily through a court application if it cannot pay its debts as they fall due.
Yes. Married in community of property, both spouses merge their assets and liabilities into a single joint estate. If one spouse becomes insolvent, the entire joint estate, and both spouses, become insolvent.
Business rescue places a financially distressed company under temporary supervision to rehabilitate its operations. It grants a temporary moratorium (stay) on all legal proceedings and execution of debt against the company, giving the business rescue practitioner time to draft a plan to restructure debt or achieve a better return for creditors than immediate liquidation.
Fill in the form or call 083 296 3920. You will speak to Larisa herself, and she will tell you straight which options are open to you.
Monday to Friday, 08:00 to 17:00
larisa@lmyburghattorneys.co.zaMenlo Park, PretoriaLady Brooks Office Park, First Floor