Turning The Tide: The Basics of Business Rescue Explained
Business rescue refers to the process aimed at facilitating the [...]
An Overview of Business Rescue Proceedings
A company which is in financial trouble has 2 (two) options: 1) liquidation, alternatively, 2) business rescue. A Court will give preference to business rescue over liquidation, but only where...
To business rescue or not to business rescue
Although the practice of implementing a turnaround strategy (business rescue) has been widely used in South Africa, business rescue was only formalised in Chapter 6 of the “New” Companies Act, Act 71 of 2008 (hereinafter referred to as “the Act”). As business rescue is still a fairly new concept within the South African legal system, it is being developed and redefined on a continual basis.