
Business Rescue
Business rescue aims to restructure the affairs of a company in one of two ways: maximising the likelihood of the company continuing in existence on a solvent basis, or resulting in a better return for the creditors of the company that would ordinarily result from the immediate liquidation of the company.
We offer the following business rescue services:
- We appoint a licensed individual who will oversee and supervise all the proceedings regarding the business rescue process
- Preparation of resolutions and court applications to place an entity into business rescue
- Independent business review
- Attending to meetings of affected persons in terms of the Companies Act
- Advice with respect to all aspects of Business Rescue
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Insolvencies
In today’s economic climate, it is unfortunately inevitable that businesses, trusts or people have to face a situation where a formal liquidation of the business or a sequestration of the trust or person in his / her personal capacity is possible.
A liquidation or sequestration is sometimes the only option, albeit a last resort, that will be to the benefit of all the parties involved. In a liquidation or sequestration, no creditor can be preferred above another, except if a creditor has security for their claim, or is granted a preference by virtue of the laws of South Africa.
We have a team of insolvency practitioners and administrative personnel with the expertise, ability and capability to deal with any type of insolvent estate, no matter how complex.
Although our head office is situated in Bloemfontein, we also have offices in Johannesburg and Cape Town, as well as satellite offices in most of the other provinces. We therefore have the ability and necessary infrastructure to attend to matters across South Africa.
This specifically includes the following services:
- Administration of insolvent estates (sequestrated individuals and/or trusts)
- Administration of liquidated entities (liquidated companies and close corporations)
- Assisting other insolvency practitioners with certain administration functions
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