The business rescue process introduced in the new Companies Act, No 71 of 2008 allows some breathing space to companies facing financial distress. The new procedures allow a business rescue practitioner to step in and keep the company operating, either to return the company to profitable ways or to ensure a better return for creditors than they would receive in the case of liquidation.
Our focus is on guiding our clients to make the right decisions at the right time. We can help you proactively manage the process, decrease legal risk and financial exposure and explore the available options.
Our services include:
- Managing financial corporate overexposure and debt restructuring.
- Obtaining adequate and enforceable security.
- Liquidation proceedings and sequestration.
- Compromises.
- Business rescue.
- The administration of insolvent estates.
- Cross-border insolvency.
- Recovery action.
- Impeachable transactions.
- Directors' personal liability.
- Forensic investigations.
- Preservation orders.
- Insolvency inquiries.
- Creditors' meetings and proof of claims.
- Training seminars on business rescue proceedings in the new Companies Act.
- Perfection of Notarial Bonds.
2022
2021
Services
The business rescue process introduced in the new Companies Act, No 71 of 2008 allows some breathing space to companies facing financial distress. The new procedures allow a business rescue practitioner to step in and keep the company operating, either to return the company to profitable ways or to ensure a better return for creditors than they would receive in the case of liquidation.
Our focus is on guiding our clients to make the right decisions at the right time. We can help you proactively manage the process, decrease legal risk and financial exposure and explore the available options.
Our services include:
- Managing financial corporate overexposure and debt restructuring.
- Obtaining adequate and enforceable security.
- Liquidation proceedings and sequestration.
- Compromises.
- Business rescue.
- The administration of insolvent estates.
- Cross-border insolvency.
- Recovery action.
- Impeachable transactions.
- Directors' personal liability.
- Forensic investigations.
- Preservation orders.
- Insolvency inquiries.
- Creditors' meetings and proof of claims.
- Training seminars on business rescue proceedings in the new Companies Act.
- Perfection of Notarial Bonds.
Newsletters
2022
2021
Business Rescue, Restructuring & Insolvency Lawyers
Our Business Rescue, Restructuring & Insolvency team provides strategy advice to boards of directors where the company is financially distressed, to ensure that the directors do not fall foul of their obligations in terms of the Company’s Act.
Our Business Rescue, Restructuring & Insolvency LawyersSECTOR HEAD
Rishaban Moodley
Practice Head, Sector Head, Director +27 (0)11 562 1666rishaban.moodley@cdhlegal.comBusiness Rescue, Restructuring & Insolvency News
More newsThe definitive position on the courts’ ability to override existing orders
” If the errors and their consequences were not so serious, this appeal could be said to arise from a comedy of errors .” This was the opening sentence in a judgment by the Supreme Court of Appeal (SCA) in Standard Bank of South Africa v Swartz and Others (Case no 1175/2022) ZASCA 28. The appeal focused on errors the High Court made in granting a “ non-existent ” business rescue application and adjudicating issues which had been disposed of byagreement
Unilateral decisions by business rescue practitioners: A make or break in the termination of business rescue proceedings
Monyela N.O and Others v Tayob N.O and Others (2023/117272) ZAGPPHC 86 (2 February 2024 ) involved an application for leave to appeal a judgment granted in the urgentcourt.
The extent of business rescue practitioners’ powers to suspend a company’s contractual obligations
Chapter 6 of the Companies Act 71 of 2008 (Companies Act) confers various powers on business rescue practitioners (BRPs) once they have assumed their responsibilities to restructure the affairs of a company that has been placed under business rescue. This is achieved through the temporary supervision of the company, and the management of its affairs, business and property, by the BRP; a temporary moratorium on the rights of claimants against the company or in respect of property belonging to the company or lawfully in the possession of the company; and the development and implementation, if approved, of a business rescue plan to rescue the company by restructuring its affairs, amongst other things.
Market recognition
- Chambers Global 2018 - 2024 ranked us in Band 2 for restructuring/insolvency.
Market recognition
- Chambers Global 2018 - 2024 ranked us in Band 2 for restructuring/insolvency.
Happy Clients
"The team were extremely responsive and commercially minded. Their strengths include effective teamwork and mindfulness of costs. They worked under very tight timelines and never once let me down."
Chambers Global 2023