Business Rescue
Rescue must be realistic, not merely hopeful.
Business rescue can provide a distressed but viable company with supervision, a temporary moratorium and a restructuring process. It is not a substitute for a business capable of being rescued.
Before commencement
The company’s financial distress, prospects of rescue, funding needs and available alternatives should be assessed before a resolution or court application is pursued.
During the process
Directors, creditors and affected persons need clear advice on the practitioner’s powers, voting rights, claims, the proposed plan and the consequences of approval or rejection.
Independent advice
HJ Möller Attorneys advises on business rescue but does not accept appointment as the business rescue practitioner. This keeps the legal advice independent of any prospective appointment.
This page provides general information and is not legal advice on a particular matter. The facts, documents and timing may change the appropriate course.