BUSINESS RESCUE

TURNAROUND MANAGEMENT
CIVIL ENGINEERING / BUILDING CLAIMS & CONSULTING SERVICES


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About Us

Senior Business Rescue Practitioner: Ken Stewart

Qualifications: Pr.Eng¹; M.Sc (Econ)²; B.Sc (Hons) Civil Engineering³

Ken Stewart is a registered Professional Engineer with, inter alia, a Masters’ Degree in Economics and Honours in Batchelor of Science. He further studied an advanced course in Business Rescue Practice under Unisa and the Law Society of SA and was awarded his Certificate from UNISA College of Law in July 2013.?


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Business Rescue Explained


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why

Why Business Rescue

If in the ensuing six months your business is either unlikely to be able to pay all its debts as they fall due and payable, or if it appears likely that the Company will become insolvent, then your business may be a candidate for business rescue.


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CALC

Our
Purpose

To provide a Company or Close Corporation with temporary supervision and protection against its Creditors (“breathing space”) in order to reorganise and restructure its affairs.


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Main
Advantage

Business Rescue is similar to the US Chapter 11 Bankruptcy Protection as in terms of s.133 of the Act it provides a moratorium on all legal processes (e.g. summonses, applications for liquidation etc.)


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Our
Procedure

Either the Board can resolve to voluntarily begin business rescue proceedings, alternatively an affected person may make a formal Application to the High Court all as described in s.129 (Resolution) and s.131 (Court Order)


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Recent Rescues


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