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Just trying to help out (not an affected creditor) - from what I can see there are numerous affected parties & not great communication from @ScottulusMaximus
Here is the knowledge I have about liquidations (for affected creditors) from my professional capacity + experience (at trade credit brokerages):
Anyone can PM me if they need have any other questions and can use my current knowledge to help
I am not a legal advisor nor will furnish any advice on a legal process (merely sharing common liquidation information)
Here is the knowledge I have about liquidations (for affected creditors) from my professional capacity + experience (at trade credit brokerages):
- Gather your Tax Invoice, PoP & any tracking/clearing/forwarding information received from SSS (identifying detail is key here - serial numbers (etc.))
- Strength in number is the way to go - creditors are ranked in the following way:
- Secured Creditors = any banks or financial institutions (of whom SSS (+ others) has taken out debt with) as well as any surety or guarantees that have been given out (in personal or business capacity) [first choice of unencumbered assets]
- Preferent Creditors = this is any employees as well as SARS (neither have any form of security) [second share of remaining unencumbered assets]
- Concurrent Creditors = this is where the remainder fall & more than likely most of the affected Carb members [this is normally the scraps (if anything) & gets Cents to the Rand (5 cents per Rand owed (as an example only))]
- Hereafter the appointed liquidator will gather a list of all affected creditors (rankings are applied as all information is gathered) & then send out a claim form (for the unencumbered assets of SS (+ others)) - please note the following on any form (from the liquidator): "DO NOT APPROVE CLAIM IF DANGER OF CONTRIBUTION EXISTS" (this ensures that SSS (+ others) do not try to retard the liquidation process & pay who they chose (not who is justly ranked)
- After this point, the liquidator will begin the winding up process & dole out according to the creditor rankings - communication will be sent out (at determined moments) by the liquidator (to keep all creditors updated on the proceedings (it could possibly be a zero sum game))
Anyone can PM me if they need have any other questions and can use my current knowledge to help
I am not a legal advisor nor will furnish any advice on a legal process (merely sharing common liquidation information)