• +27 76 854 6605

Business Rescue Articles

Group Five creditors committee independent chairperson a first for the country. Haroon Laher of law firm Fasken, who is the independent chairperson of Group Five’s committee of creditors in the company’s business rescue process, is helping to forge a new path for business rescues in South Africa.Laher is the first…
New owners aim to recapitalise and stabilise the business, while former owner faces fraud charges. Christmas has come early for Hamleys South Africa – the local franchise operations of the world’s oldest toy store chain – as it has been saved through the business rescue process after facing closure earlier…
Clothing retailer Edcon narrowly avoided liquidation early in 2019 when its creditors and landlords threw it a R2.7bn lifeline. It was too big to fail because its collapse would have put 140,000 jobs on the line. Similarly, business rescue practitioners are working around the clock at construction firm Group Five…
Delay in cognition by management is likely to see a firm’s distress worsening and the turnaround potential of a firm eroded. This inertia and resistance to change are further likely to result in antecedents absent in the required cognition of distress to trigger turnaround actions.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY (SAQA) In accordance with the National Qualifications Act, Act No 67 of 2008, the SAQA invites comment from interested parties on the application(s) received from the: • Turnaround Management Association Southern Africa [TMA-SA]• Employee Assistance Professionals Association of South Africa (EAPA-­‐SA) – additional professional designations SAQA…
The 1973 Companies Act has as a central tenet the maintenance of capital. This tenet informed the basic approach to the way share capital was structured, and was the reason why shares could not be subscribed for at a discount and why a company could neither acquire its own shares…
"WHERE TO DRAW THE LINE” Duties of a Business Rescue Practitioner A business rescue practitioner (“BRP”) must investigate the company’s affairs, business, property and financial situations shortly after he has been appointed.  The BRP gets the company with the financial situation that exists at the time of business rescue, namely…
Business rescue has been in operation since May 2011.  The current statistics indicate that since May 2011, approximately 2040 entities have been placed into rescue.  Of these, approximately 1 100 are still in business rescue.  The statistics indicate that approximately 280 were substantially implemented. The purpose of this article is…
BUSINESS rescue legislation has opened many new avenues for underperforming or distressed businesses in South Africa, according to the Turnaround Management Association - Southern Africa (Chapter) (TMA-SA). “Business rescue is the legal process in which a financially distressed company is given a ‘breathing space’, a moratorium, to organise its affairs,…
THE turnaround of Eagle Software’s fortunes is a good example of a successful business rescue operation. Eagle Software was founded in February 1995 by five IT industry experts to offer specialised information technology consulting to the South African large scale private and public sector computer departments. The company revolved to…
THE turnaround of Eagle Software’s fortunes is a good example of a successful business rescue operation. Eagle Software was founded in February 1995 by five IT industry experts to offer specialised information technology consulting to the South African large scale private and public sector computer departments. The company revolved to…
BUSINESS rescue legislation has opened many new avenues for underperforming or distressed businesses in South Africa, according to the Turnaround Management Association - Southern Africa (Chapter) (TMA-SA). “Business rescue is the legal process in which a financially distressed company is given a ‘breathing space’, a moratorium, to organise its affairs,…
Reflections on two cases involving Liquidations and Business Rescue, and fees of Liquidators and Business Rescue Practitioners.
Download or view a list of Business Rescue Cases - as at 16 September 2015 Business Rescue Cases  
A research proposal submitted by James Wilkes to the Gordon Institute of Business Science, University of Pretoria, in partial fulfilment of the requirements for the degree of Masters of Business Administration. James Wilkes submitted his research paper to the TMA global awards and won first prize in the Theoretical/Conceptual category.…
Polyfoil Zimbabwe (Private) Limited “Polyfoil” is a company in Bulawayo, Zimbabwe, engaged in the manufacture of plastic shopping bags and other plastic goods for a number of major retailers and businesses in Zimbabwe.
Business rescue practitioners often  experience difficulties in deciding what costs can be paid by the company in business rescue and in respect of what services.
In our newsflash of November 2011, we reported to you on the seminal judgment of Acting Judge Rogers (as he then was) in Investec Bank Ltd v Bruyns 2012 (5) SA 430 (WCC). The Bruyns judgment confirmed that a creditor may sue a surety for the debts of a company…
The Marikana tragedy highlights the need for improvement in the social and economic lives of mineworkers.  Continual pressure through the mining Charter and through the Minerals and Petroleum Resources Development Act ("MPRDA") are continually being exerted.
A research project submitted to the Gordon Institute of Business Science, University of Pretoria, in partial fulfilment of the requirements for the degree of Masters of Business Administration.
Page 1 of 2

TMA Global on Twitter

TMA Global on Facebook