“Business Rescue, as defined by the Companies Act 2008, aims to facilitate the rehabilitation of a company that is "financially distressed" by providing for: the temporary supervision of the company and management of its affairs, business and property by a business rescue practitioner, a temporary moratorium ("stay") on the rights of claimants against the company or in respect of property in its possession and the development and implementation (if approved) of a business rescue plan to rescue the company by restructuring its business, property, debt, affairs, other liabilities and equity."
The Business Practitioner is required to reduce the debt burden in order to enable the company to continue trading. They are required to investigate the company’s affairs, business, property and financial situation, and thereafter consider whether there is any reasonable prospect of rescuing the company.
A Business Rescue Plan must be drawn up by the practitioner and will then be put to a vote by the creditors. Once successfully voted in, the Business Rescue Practitioner must implement and oversee the business rescue plan in an attempt to save the company.
The Powers of The Business Rescue Practitioner
Part A: Risk
Part B: The Business Rescue Process
Part C: Business Rescue Plan
Louis Klopper CFO(SA)
CEO Coronado Consulting Group
For the past 15 years, and after a 20-year banking career, Louis followed his passion assisting ailing businesses to turn their fortunes around.
This involves all aspects of executive and operations management including strategy formulation, marketing and sales, operational efficiencies, financial management, training and development etc. focusing on processes, procedures and most importantly efficiencies and controls.
Since 2011 he has been a Senior Business Rescue Practitioner.
Louis has developed a number of dynamic and highly successful analytical methodologies linking both financial and operational sides of the business in order to accurately detect distressed areas, thereby ensuring the rapid and efficient solution to business stress.
Whether you provide professional services to financially troubled companies and the founders of such companies or are new to the turnaround and business rescue industry wishing to achieve a quantum leap in knowledge, this seminar is for you:
Attendance of the half-day seminar/webinar will accrue 4 hours’ CPD for members of a relevant professional body such as ACCA, SAICA, AAT, SAIPA, SAIBA, IAC, CIS, ICBA, LSSA, FPI, and the IBA.
Complete the free online assessment at the end of the event and receive an additional 1 CPD hour.
|Date: Oct 19, 2017|
|SAIT CPD Subscriber: CPD Package Dependent|