Legal updates and opinions

Business Rescue Proceedings A company should commence business rescue proceedings at the first signs of it being financially distressed, within the meaning of the Act. 1. [...]

The recent High Court judgment in National Director of Public Prosecutions v Knoop N.O and others; National Director of Public Prosecutions v Templar Capital Limited and [...]

Business Rescue Practitioner 1. What is the role of the business rescue practitioner? The business rescue practitioner is required, as soon as possible after appointment, to [...]

South Africa's business rescue procedure by Eric Levenstein, Head of Insolvency, Business Rescue & Restructuring and, Brandon Starr, Candidate Attorney In the recently published Deloitte Africa [...]

Business Rescue Plan 1. What is a business rescue plan? A business rescue plan is a plan developed and, if approved, implemented by the business rescue [...]

The South African business rescue process has created the opportunity for investors (local and foreign) to position themselves in order to take advantage of distressed assets [...]

The South African business rescue process has created the opportunity for investors (local and foreign) to position themselves in order to take advantage of distressed assets [...]

Section 129(7) of the Companies Act The often "overlooked" Section and its meaning for directors of financially distressed companies by Eric Levenstein, Director, and Head of [...]

Business Rescue in South Africa 2022 by Eric Levenstein, Director, and Head of Insolvency, Business Rescue & Restructuring practice, and Malachizodok Mpolokeng, Candidate Attorney With the [...]

Cross-border insolvency by Eric Levenstein, Director and Head of the Insolvency, Business Rescue & Restructuring Practice and Nastascha Harduth, Director Breaking news out of India, is [...]

What effect does business rescue have? 1. What happens to the directors during business rescue? The directors of the company remain the directors. However, their powers [...]

Section 139(3) of the Companies Act Who has the power to appoint a business rescue practitioner's replacement, in circumstances where a practitioner dies, resigns, or is [...]

Chapter 6 of the Companies Act No. 73 of 2008 Continued pressure on business and world economies due to the ongoing battle with the Covid-19 Pandemic [...]

Advancing credit to financially distressed companies Continued pressure on business and world economies due to the ongoing battle with the Covid-19 pandemic continues into the second [...]

What is business rescue? Business rescue proceedings are proceedings aimed to facilitate the rehabilitation of a company that is financially distressed by providing for – the [...]

by Eric Levenstein, Director and Head of Insolvency, Business Rescue & Restructuring Practice; Nastascha Harduth, Director; and Siyabonga Galela, Candidate Attorney   Introduction When a director [...]

Business rescue proceedings Business rescue proceedings almost invariably take place under less than ideal circumstances. To begin with, all candidates for business rescue are financially distressed, [...]

Setting the scene Since being placed under voluntary business rescue in December 2019, South African Airways ("SAA") has been a consistent (and often controversial) conversation point [...]

by Roxanne Webster, Senior Associate and Siyabonga Galela, Candidate Attorney Reviewed by Eric Levenstein, Director and Lauren Becker, Director Introduction The payment and ranking of business [...]

by Eric Levenstein, Director and Head of Insolvency, Business Rescue & Restructuring Practice; and Malachizodok Mpolokeng, Candidate Attorney Looking back at 2020, it has truly been [...]

by Eric Levenstein, Director and Head of Insolvency, Business Rescue & Restructuring Practice The onset of the Covid-19 pandemic in 2020 created a new playing field [...]

Introduction Once a company is placed into a business rescue proceeding, the business rescue practitioners immediately step into a supervisory role and where the board of [...]

By Nastascha Harduth, Director and Roxanne Webster, Senior Associate Since the introduction of the Companies Act 71 of 2008 ("the Companies Act"), and particularly Chapter 6 [...]

by Walid Brown, Director and Elzaan Haynes, Candidate Attorney Business Rescue is aimed at creating a culture of corporate rescue which is appropriate for the modern [...]

By Malachizodok Mpolokeng, Candidate AttorneyReviewed by: Dr. Eric Levenstein, Director and head of the Insolvency, Business Rescue & Restructuring practice. Setting the scene The COVID-19 pandemic [...]