Tag: Business rescue

Business Rescue: What Directors, Creditors and Employees Should Know

What is Business Rescue? Business rescue is a legal process under Chapter 6 of the Companies Act 71 of 2008. It gives a struggling company breathing room to restructure instead of being liquidated. The Act defines it as proceedings to rehabilitate a financially distressed company through three things (CIPC): The plan aims to keep the […]

Business Rescue: A Lifeline for Financially Distressed Companies

For entrepreneurs and business owners, challenges are inevitable. But when these challenges become too many, some companies may find themselves in financial distress, struggling to keep up with debt payments and daily operational costs. In South Africa, there is a legal process called business rescue that aims to help these businesses get back on their […]