Business Rescue for Legal Practitioners
Presenters : Eric Levenstein , Lauren Becker , Nastascha Harduth
Business rescue proceedings have been an integral part of the South African legal and restructuring landscape for more than a decade. Since its inception, business rescue has served as an effective means through which financially distressed companies could be rehabilitated and restructured, by way of a formal restructuring process.
Given the current economic climate, business rescue proceedings have become more relevant than ever - with many stakeholders considering business rescue as a viable option for companies teetering on the brink of insolvency and in need of a fresh start.
All legal practitioners will undoubtedly encounter business rescue at some level or another. As such, gaining an understanding of the business rescue process is essential for all legal practitioners. It must be noted that business rescue is a specialist area, and Chapter 6 of the Companies Act 71 of 2008, which deals with business rescue, is complex and requires thorough analysis before one can properly understand and advise on the business rescue process.
Learning objectives
By the end of this webinar you should:
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Be equipped with the necessary foundational knowledge to advise clients on the processes of business rescue.
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Be aware of the various statutory duties and responsibilities placed on boards of directors and business rescue practitioners, in terms of the Companies Act.
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Understand how to advise and protect the interests of directors, creditors, shareholders or employees of a company in financial distress.
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Have a basic understanding of and practically apply the provisions of the Companies Act pertaining to certain legal aspects of business rescue.