May 27, 2017 | Business Act, Business Rescue, Legal
Lowvelder article for 27 January 2017. Restructuring of companies in financial distress is on the increase. In South Africa, Chapter 6 of the Companies Act introduced business rescue as an opportunity for financially distressed companies to file for a formal...
Jan 17, 2017 | Business Act, Business Rescue
A question often raised is what are the costs involved in the event that a company commence with business rescue proceedings. The current basic remuneration of a business rescue practitioner, as contemplated in section143 of the Act is: R1 250 per hour, to a maximum...
Jan 7, 2017 | Business Act, Business Rescue, Human Resources
By now most people have heard about Business Rescues, but as an employee of a company are you aware of your rights when the company commence with business rescue proceedings? The focus of this week’s article is the effect of business rescue on employees during...
Jun 15, 2016 | Business Act, Business Rescue
The directors of a company, which will not be able to pay its debts in the immediately ensuing six months, has an obligation to make a decision whether or not the company will commence with business rescue proceedings. In the event that the directors decide not to...
May 27, 2016 | Business Act, Business Direction
Companies are always in constant cycles, the highs, the lows and the break-evens. It is part of business and a reality that all businesses do experience these cycles. It is therefore import for entrepreneurs to make the right choice at the right time to provide the...
Apr 1, 2016 | Business Act
In today’s economic climate Business rescue has become a critical part of business strategy decision making, especially during economic downturns and recessions. Early warning signs are regarded as all types of events in business that point to the potential demise of...
