If your company looks like you might have to shut its doors, I have a lifeline for you. It's called business rescue.
It's the legal process you can use to help rescue your business if it's in financial difficulty. And it's probably your last chance to get your business back on its feet.
Let me show you how it works so you can save your business from liquidation... How to make yourself invi... ››› more
Mr Madodza couldn't believe his ears that morning in the High Court. The Judge allowed the Sheriff of Nelspruit to remove his vehicles, even though Section 133(1) (Companies Act) protects businesses from creditors during business rescue. And Mr Madodza was undergoing business rescue. So what happened? The small mistake he made, was that he didn't follow the correct steps to appoint his business re... ››› more
The Companies Act requires you to appoint a business rescue practitioner when you apply for business rescue. But before you do, your practitioner must meet these five requirements...
The Practical Accountancy Loose Leaf explains that either the courts assign a business rescue practitioner to you, or you propose one to the courts.
If you appoint your own business rescue practitioner, the cou... ››› more
Over 3 766 businesses are liquidated every year in South Africa. If your business is insolvent and you're still trading, you can restructure and reorganise your business through business rescue. But to do this, you need to follow the correct processes and appoint an eligible business rescue practitioner. But how do you know if he's the right man for the job? Let's have a look at the five requireme... ››› more
Disclaimer Copyright 2017 Fleet Street Publications (Pty) Ltd. The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. No part of this publication may be reproduced or transmitted in any form or by means of electronic or mechanical, including recording , photocopying, or via a computerised or electric storage or retrieval system without permission granted in writing from the publishers.