2018 - Business Rescue
Overview
Many businesses across different industries are applying for business rescue in South Africa. As at 31st March 2018 more than 2800 companies had applied for business rescue proceedings to commence in terms of Chapter 6 of the Companies Act. See the CIPC report here.
Attend this event and learn how you can share in this growing market by qualifying as a business rescue practitioner.
Learning objectives
After attending this event you will be able to:
- Understand the requirements to draw up and implement strategic plans/turnaround strategies for companies in distress.
- Understand how to add business rescue to the services offered by a accounting or legal practice.
- Implement the requirements of Chapter 6 of the Companies Act governing business rescue.
- Explain the business rescue process.
- Advice clients as to the roles and responsibilities of the different stakeholders in the process.
Course content
The event will cover the following content:
- How to obtain your business rescue licence from the CIPC.
- Provisions of the Companies Act, 2008 regarding commencement of business rescue proceedings.
- The procedure for appointment, qualifications for appointment, removal, and duties and personal liability of the business rescue practitioner.
- Important principles of labour law affected by business rescue, including the procedure for retrenchments and other dismissals.
- The power of the practitioner to suspend, or to apply for cancellation of, contractual obligations of the company.
- The preparation of the rescue plan.
- How to determine whether the company is in financial distress, and whether there is reasonable prospect of a rescue.
- Roles and responsibilities of the business rescue practitioner, directors, employees, SARS, CIPC, and creditors.
- The tax and accounting implications of business rescue.
- A Case Study demonstrating the process.
