With the current economic downturn and the result of the lockdown, many companies are facing financial distress. This creates a market for business rescue practitioners to provide their unique services.
But what is the business rescue process and who can be a business rescue practitioner?
With the new CPD requirements, all business rescue practitioners need 4 hours verifiable CPD that is specifically focused on the business rescue process.
Join us in this session as we discuss the business rescue process and how it differs from liquidation.
Chapter 6 Of the Companies Act
Business rescue defined
Business rescue practitioner defined
o Requirements to register as a business rescue practitioner
Financially distressed defined
Stakeholders in a business rescue
o Rights and obligations
Business rescue proceedings
Business rescue plan
Opposing a business rescue
Timeline of business rescue
Effects of business rescue
Liquidation proceedings vs Business rescue proceedings
