Sep 25, 2025 | Business Rescue, Insolvency / Liquidation
“If you’re flogging a dead horse, make sure you’re not riding it.” (Josh Stern) Creditors and company directors alike need to know how best to deal with a company in financial distress. Both should learn to recognise the difference between an...
Jan 28, 2025 | Business Rescue
The South African Revenue Service (SARS) is typically one of the creditors in a company undergoing business rescue. In liquidation, SARS is a preferent creditor, ranking after secured creditors and employees but before concurrent creditors. Therefore, SARS...
Nov 27, 2024 | Business Rescue
In recent years, South Africa’s economy has faced sluggish, and at times negative, growth. The situation worsened significantly during the COVID-19 pandemic when the South African government imposed a nationwide lockdown, halting all business activities except...
Nov 1, 2024 | Business Rescue
Many companies continue to face economic challenges stemming from the nationwide lockdown lifted in April 2022. Despite the resumption of economic activity, many companies struggle to break even and require financial support. Financially distressed companies often...
Sep 27, 2024 | Business Rescue, Uncategorized
Upon the filing of a resolution to place a company into business rescue or the issuance of an application for such an order, a legal moratorium automatically comes into effect. While not mandatory, the business rescue practitioner typically notifies all known...
Sep 2, 2024 | Business Rescue
Business Rescue has been lauded by various commentators for its potential to preserve employment opportunities. Unlike liquidation, where a company ceases operations and employees automatically lose their jobs, a company under business rescue continues to operate,...
