Feb 12, 2016 | Business Act
One of the main intentions of the legislature in the promulgation of the “new” Companies Act was the preservation of employment opportunities. In the absence of business rescue, financially distressed companies often ended up in liquidation resulting in the loss of...
Jan 29, 2016 | Business Act, Business Direction
One of the purposes of the Act is to provide for the efficient rescue and recovery of financially distressed companies in a manner that balances the rights and interests of all relevant stakeholders. In order to adopt a proposed Business Rescue Plan more than 75% of...
Jan 15, 2016 | Business Act, Business Direction
The Business Rescue process offers a variety benefits other than the obvious continued existence of the company. In terms of the Companies Act, a successful Business Rescue is where the company continues in existence on a solvent basis or where creditors receive a...
Feb 24, 2015 | Business Act
To file for business rescue (BR) is not complicated and can be achieved in a couple of hours. BR creates a moratorium on legal proceedings against the company. No one can execute court orders or commence court proceedings against the entity. The BR practitioner must...
Mar 4, 2014 | Business Act
Business rescue is a difficult concept to grasp, but Braam van Rensburg and Adriaan Smuts, directors of BVR Business Rescue make it very easy to understand. They put you at ease and provide hope for your business. Braam has been engaged in the insolvency and...
