Company

Sanek is regarded as one of the leading insolvency practices in the country and is staffed by experienced and suitably qualified people and backed by a solid and well-established infrastructure with specially designed software to ensure that creditors and other role players are properly serviced. Sanek prides itself in maintaining the highest standards of corporate governance and is particularly strong in the areas of service delivery, asset recovery and realisation, forensic investigations, effective and successful insolvency enquiries and the ability to interact with creditors and legal teams (where necessary) to ensure cost effective and efficient administration.

Our in-house experience and qualifications enable us to conduct our own basic forensic investigations to establish, at an early stage in the liquidation process, any illegal or fraudulent accounting practices or transactions. We generally take appointments in the larger more complex matters and although we are not formally represented in other parts of the country, our contacts and networks are sufficiently well spread across the country to enable us to regularly seek appointments outside of Cape Town.

In addition to administering insolvent estates, liquidated companies and close corporations and judicial managements, we also have extensive experience and expertise in implementing schemes of arrangement in terms of Section 311 of the Companies Act. A particular area of our expertise lies in conducting effective and “profitable” enquiries with a view to recovering further assets, establishing claims against third parties and collecting debtors who appear to have no right to withhold payment of amounts due.

Sanek views affirmative action as a process to create equal opportunity for all. We at Sanek are always willing to share and transfer our skills to insolvency practitioners from previously disadvantaged communities to enable them to contribute meaningfully to the insolvency and recoveries industry in South Africa.

Sanek was recently approached by Begbies Traynor which is listed on the London Stock Exchange and is the UK’s leading business rescue, recovery and restructuring specialist to become part of their international network of offshore offices. Sanek is proud to be associated with Begbies Traynor and now has access to over 140 firms with more than 350 locations in 109 countries, bringing together a unique resource of some 8,500 professional and support staff worldwide.

The practitioners at Sanek attend insolvency conferences both nationally and internationally to keep abreast of the latest developments, particularly in relation to changes in the law and to connect and interact with colleagues around the country and internationally.