Jul 7, 2017 | Business Act, Business Rescue, Legal
Since the inception of business rescue proceedings, there is uncertainty in respect of the rights of creditors they previously enjoyed. One of these rights is ownership in movable assets. Often creditors reserve ownership in moveable assets in case the debtor is...
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...
May 24, 2017 | Business Rescue
Lowvelder Article 24 February 2017 Is it possible for a company to be too insolvent for Business Recue? The answer is Yes. Business rescue is defined as proceedings to rescue and rehabilitate a “financially distressed” company. It is, therefore, important to...
May 18, 2017 | Business Rescue, Legal
What to do when a Creditor of the Company does not participate in good faith in the business rescue process? In the matter between Copper Sunset Trading 220 (Pty) Ltd, t/a Build It Lephalale (under Business Rescue) vs Spar Group Ltd, two creditors voted against the...
May 5, 2017 | Business Rescue
Lowvelder Article for 5 May 2017 It is not easy to admit that your business is insolvent. However, it is a director’s responsibility to act when the company is in financial destress. It is therefore important to act as quick as possible to provide the company the best...
Feb 7, 2017 | Business Rescue, Legal
Business rescue have placed a major responsibility on creditors, directors and shareholders of distressed companies to “come to the rescue” of companies in financial distress. The decision on who to employ as a business rescue practitioner is therefore one of the most...
