Business Rescue

Advantages of Using a Brokerage with a National Footprint

In the highly competitive insurance brokerage industry, service delivery is of utmost importance. At Shackleton Risk Management (“SRM”) we are able to provide our services nationally across South Africa. With offices in Johannesburg, Pretoria, Durban, Cape Town, Port Elizabeth, Bloemfontein and Nelspruit and representation in Grahamstown, Kimberley and Mmabatho, we are able to be the…

Business Rescue vs Liquidation in South Africa

Simply put, a liquidation and business rescue can be compared to a shut down versus rehabilitation. Liquidation (also known as “winding up”) is when a debtor company which owes money to a creditor is wound up.  The creditor would typically apply to court to after having demanded payment from the debtor company to no avail, to…

Business Rescue: How do I apply for a license as a Business Rescue Practitioner?

A person may be appointed as a business rescue practitioner of a company only if he or she is a member in good standing of a legal, accounting or business management profession. A conditional license as a practioner  may be issued to a person who has been nominated by a company that is financially distressed.…

What is Business Rescue?

Business rescue, as defined by the Companies Act 2008, aims to facilitate the rehabilitation of a company that is “financially distressed” by providing for 1. the temporary supervision of the company and management of its affairs, business and property by a business rescue practitioner, and 2. a temporary moratorium (“stay”) on activities carried out by…