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We are pleased to present below all posts tagged with 'advantages of business rescue'. If you still can't find what you are looking for, try using the search box.
There are various reasons why a business may not perform well, and this will likely have an impact on its financial soundness. In this time of the COVID-19 pandemic there are indeed a lot of unprecedented challenges being faced by businesses the world over, necessitating the need to adopt and adapt to the new normal.
Whereas liquidation is prescribed for companies that are insolvent (solvent companies can also liquidate under section 81 of the Companies Act 71 of 2008), business rescue is preferred where there are prospects that the company can be saved from shutdown.
In this article, we discuss the business rescue process in South Africa, as well as the difference between business rescue by compnay resolution and business rescue by court order.
COVID-19 has wreaked immense havoc on our country, leaving behind an economic wasteland that no business – small enterprise or big corporation – is immune to. Is business rescue an option?
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