Insolvency, Business Rescue & Restructuring
We work closely with all relevant stakeholders to ensure that distressed companies are restructured, placed into business rescue or liquidated. Our Insolvency, Business Rescue & Restructuring team has a vast knowledge of the legislation and the manner in which business rescue proceedings are implemented, including the manner in which companies should file for business rescue proceedings, the appointment of business rescue practitioners and the duties and liabilities of all parties involved. When liquidation is the only solution, we provide forthright advice to attain a commercially acceptable solution whether you are a creditor, lender, company, director or shareholder.
Our Insolvency, Business Rescue & Restructuring services include:
- Instituting business rescue proceedings
- Liquidation or sequestration applications
- Conducting forensic investigations and convening enquiries
- Corporate restructuring for entities
Our Insolvency, Business Rescue & Restructuring Legal Team
Qualified attorneys taking care of your insolvency and business rescue matters
From Our Blog
Turning The Tide: The Basics of Business Rescue Explained
Business rescue refers to the process aimed at facilitating the rehabilitation of a financially distressed company. This process is detailed in Chapter 6 of the South African Companies Act of 2008, designed to help companies recover from financial turmoil while avoiding liquidation. At Pagel Schulenburg, our expertise spans the full spectrum of business rescue procedures, ensuring that our clients receive [...]
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.