Category Archives: Business Rescue

What Should You Do If a Creditor Tries to Liquidate Your Business?

Due to the recession, there are a rising number of local companies in financial distress and facing threats or applications from creditors to liquidate their businesses. The latest Statistics South Africa (StatsSA) figures released in November show that the total number of liquidations increased by 33.2% in the three months ended October 2020 compared with […]

Business Rescue Options: Going the Informal Route v the Companies Act Route

The business rescue provisions in the Companies Act are regarded as progressive and world class and there is evidence that it has worked well. Yet a 2016 survey showed that more distressed businesses opted for an informal approach and appear to be more successful than those opting for the remedies of the Companies Act. What’s […]