WHEN CRISIS THREATENS THE CONTINUITY OF A BUSINESS, WE DELIVER THE SERVICES THAT BEST RESPOND TO COMPLEX CHALLENGES.
In terms of Chapter 6 of the new Companies Act, Business Rescue is a process to rehabilitate and rescue a financially distressed company.
A pre-Business Rescue Assessment undertaken by the company’s directors or auditors will in most instances reveal whether rescuing the company is a feasible option.
The Act sets out who may be appointed as a Business Rescue Practitioner, the qualifications required and their duties and responsibilities. The practitioner must be a member in good standing of a legal, accounting or business management profession, and should have a strong financial background and no conflicts of interest with the business under rescue. He or she must also be accredited and licensed by the Companies and Intellectual Property Commission (“CIPC”).
Companies undergoing Business Rescue are classified according to size. The size of the company then determines the level of experience required by the Business Rescue Practitioner.
When it comes to restoring profitability to a business in crisis, time is of the essence. The Matuson & Associates team of highly qualified business professionals has broad-based experience across a wide industry spectrum and are able to tailor the most appropriate strategies with the required sense of urgency. Matuson & Associates has a solid track record of helping companies experiencing financial difficulties to pursue viable alternatives to liquidation. In this way jobs are often preserved and maximum stakeholder value is achieved.
Our widespread acknowledgement as one of South Africa’s premier Business Rescue Practice is underpinned by our leading roles in South Africa’s largest Business Rescue appointments.