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If a Company if financially distressed, by voluntarily going into Business Rescue a Company has the potential to “get back on it’s feet and continue operating, with a more efficient balance sheet.
Business rescue is a process which assists a financially distressed company to avoid potentially being liquidated, by restructuring the asset of the Company which allows the company to continue operating.
Many businesses have been drastically affected by Covid-19 and the resultant lockdowns in South Africa and need guidance through these difficult times.
Directors also need to understand the level of their personal liability, if it is discovered that they are Trading Recklessly in terms of Section 22 of the Companies Act. This liability should be avoided at all costs by
implementing the proper processes.
Our team of experienced Business Rescue Practitioners will assist the directors to determine if they Company is a candidate for Business Rescue and guide them accordingly.
We are registered Business Rescue Practitioners with teh Companies & Intellection Property Commission (CIPC)