Business Direction

COVID-19 AND SMMEs

Covid-19 & SMMEs The notorious coronavirus, also known as COVID-19 is causing a slowdown in trade, not only in South Africa but worldwide. In the past weeks, we have seen a lock-down of countries such as China and Italy. South Africa is no exception, on the 23rd of March 2020, the President announced that SA [...]

DIRECTORS BEWARE // WATCH OUT // BE WARNED

DIRECTORS BEWARE  //  WATCH OUT  // BE WARNED In the unstable economic state which exists in the world today, it is without a doubt necessary for all directors of companies to be aware of the risks involved in the event that a company proceed to do business even though the company [...]

THE EFFECT OF BUSINESS RESCUE ON DIRECTORS OF THE COMPANY

THE EFFECT OF BUSINESS RESCUE ON DIRECTORS OF THE COMPANY 29 July 2016 In previous articles, we discussed that it is the duties of directors of a company which is in financial distress to commence with business rescue proceedings. The focus of this article is what the effect will be of [...]

Business Rescue

BUSINESS RESCUE   27 May 2016 Companies are always in constant cycles, the highs, the lows and the break-evens. It is part of business and a reality that all businesses do experience these cycles. It is therefore import for entrepreneurs to make the right choice at the right time to provide [...]

BUSINESS RESCUE PLANS

BUSINESS RESCUE PLANS   29 January 2016 One of the purposes of the Act is to provide for the efficient rescue and recovery of financially distressed companies in a manner that balances the rights and interests of all relevant stakeholders. In order to adopt a proposed Business Rescue Plan more than [...]

Benefits of Business Rescue

THE BENEFITS OF BUSINESS RESCUE   15 January 2016 The Business Rescue process offers a variety benefits other than the obvious continued existence of the company. In terms of the Companies Act, a successful Business Rescue is where the company continues in existence on a solvent basis or where creditors receive [...]

The Importance of Pre-Assessment in Business Rescue

THE IMPORTANCE OF PRE-ASSESSMENT IN BUSINESS RESCUE 16 April 2015 The Company’s Act states that the directors of a company need to consider if the company is financially distressed and if there is a reasonable prospect that business rescue will succeed? In order to arrive at an opinion as to whether [...]