Unicoll
Business Rescue
The Benefits of Business Rescue
- Rehabilitate a financially stressed company
- Provide a better return for creditors
- Help the company to achieve solvency
- A rescued company is preferable to a liquidated company
- Preservation of employment and assets
The Benefits of Business Rescue
The objective of business rescue proceedings is to facilitate the rehabilitation of a company which is in financial distress placing it back into a solvent status in terms of the Companies Act 71/ of 2008.
Why do companies fall into Business Rescue?
The objective of business rescue proceedings is to facilitate the rehabilitation of a company which is in financial distress placing it back into a solvent status in terms of the Companies Act 71/ of 2008.
Why would Business Rescue provide a better return for creditors?
This serves as one of the primary potential benefits of Business Rescue. If it is successful, creditors will benefit by making a greater return on any outstanding debts. Insolvency has a poor return on debts for a company. A successful Business Rescue Plan saves on expensive liquidators fees.
What would the impact of business rescue be on employees?
The Business Rescue procedure was introduced through chapter 6 of The Companies Act 71 of 2008 (“Companies Act”), would not be automatically face retrenchment.
Turnaround
When a company that has experienced a period of poor performance moves into a period of a financial recovery, it’s called a turnaround. A turnaround may also refer to the recovery of a nation or region’s economy after a period of recession or stagnation. The aim of a Turnaround Plan is to maintain a steady and positive financial recovery and process, by implementing a Turnaround Strategy.
A skilled team of Business Consultants are employed to identify the problem areas, perform a due diligence and suggest various changes in management and internal processes, with the aim of maintaining the companies solvency and continual trading. This process is not governed by Legislation and seen as a friendlier approach before considering Business Rescue and Liquidation as a last resort.
Our Team consists of professionals : It may not be necessary to consult all in the team – A consultation and due diligence will take place first to determine the companies position.
Costs are of utmost importance and it is not in our organisations interest to charge astronomical costs and claim funds from an already distressed company.
Our work ethics are our success and we strive to help the distressed companies survive, that is our passion to take the right action!
- BR Practioner
- Attorney
- Legal Consultancy
- Labour consultancy
- Accountant
- Business Solutions Consultant
- Financial Advisor