Mar 26, 2020 | Business Direction, Business Rescue, Human Resources, Tax
The notorious coronavirus, also known as COVID-19 is causing a slowdown in trade, not only in South Africa but worldwide. In the past weeks, we have seen a lock-down of countries such as China and Italy. South Africa is no exception, on the 23rd of March 2020, the...
Jan 7, 2017 | Business Direction
In the unstable economic state which exists in the world today, it is without a doubt necessary for all directors of companies to be aware of the risks involved in the event that a company proceed to do business even though the company is in financial distress or...
Jun 29, 2016 | Business Direction, Business Rescue
In previous articles, we discussed that it is the duties of directors of a company which is in financial distress to commence with business rescue proceedings. The focus of this article is what the effect will be of business rescue on directors during business rescue...
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...
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...
