Business Rescue Proceedings explained The New Companies Act of 2008, Chapter 6 (Business Rescue) became effective on 1 May 2011. Companies which are financially distressed and need to be rehabilitated…
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What happens if a family-owned business is in financial distress? When insolvency threatens, can the family legacy be preserved and their interests protected? Business rescue practitioners face a complex challenge when…
“Power corrupts and absolute power corrupts absolutely”. Lord John Acton 1834-1902 In the history books of the future, corruption will probably be the defining feature of South Africa’s political life…
By Sandra Beswick Business rescue has gained an undeserved reputation in recent years for forcing companies into liquidation, leaving the directors with their hands tied and causing great losses for…
Business Rescue Practitioner friend of Foe? This article was prompted by my observations of the varying attitudes displayed by affected parties towards me depending on the progression of the business…
Business Rescue – Positives Background Chapter 6 of the Companies Act no 170 of 2008 deals with business rescue and was promulgated in 2011 similar to Chapter 11 in the…
Recent Statistics published by Finweek 21st May 2014 What kind of companies generally end up in a Business Rescue Operation? At the top of the list are Private Companies (Pty),…
Primary Cause and Reason Companies Face Financial Distress The main factor behind a business facing financial distress is Management. This is true of nearly all the business rescue operations we…
Definitions of Chapter 6 of the Companies’ Act 2008 Business Rescue Business Rescue means the plans and steps taken to rescue and rehabilitate a company that is financially distressed by:…
Business Rescue is not for Sissies Chapter 6 (Business Rescue) of the New Companies Act of 2008 which became effective on 1 May 2011 is the rehabilitation of a financially…
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