Business Rescue

WHEN EVENTS THREATENS THE CONTINUITY OF A BUSINESS, AFRICAN VENTURE GROUP DELIVER THE SERVICES THAT RESPOND TO CHALLENGES.

In terms of Chapter 6 of the new Companies Act, Business Rescue is a process to rehabilitate and rescue a financially distressed company.

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. Our 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.

African Venture Group

1 Nollsworth Crescent, Umhlanga, Durban, 4051

 

National:

078 115 6607

International:

+27 78 115 6607

Email: info@africanventuregroup.co.za

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