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The surrendering of your estate is a process instituted by the Courts to help persons that are no longer in a position to honor their debts due to uncontrollable circumstances.
The surrendering of your estate is a process instituted by the Courts to help persons that are no longer able to pay their debts due to circumstances out of their control.
Rehabilitation is a legal process which happens by order of the High Court of South Africa, whereby the Insolvent (applicant) is declared financially fit and proper again by the High Court.
When a business fails and is unable to pay its debts, it can be placed into liquidation. An application will be brought in the High Court and a liquidator will be appointed to take charge of the estate to sell the assets by way of public auction.