As South Africa continues to experience economic and financial strain across various sectors and industries, the importance of early corporate rescue intervention mechanisms becomes increasingly significant.

Business Rescue remains an important and effective tool for restructuring financially distressed companies and was clearly intended by the South African legislature to be a practical, progressive, and value-preserving alternative to liquidation. It was designed to allow distressed, yet viable companies, the breathing room to restructure, preserve jobs, renegotiate prejudicial contracts, compromise historical debt and ultimately maximise value for creditors and stakeholders.

However, despite these noble intentions, and 14 years down the line since Chapter 6 was introduced onto our statute books, we continue to see a surprising underutilisation of this mechanism.

The webinar will unpack the role that various stakeholders play in the development of the business rescue narrative in South Africa and how these stakeholders can potentially position business rescue in a manner which encourages directors to file for business rescue early enough on the financial distress curve, and how these stakeholders can direct, progress and improve the way we conduct business rescue mandates in South Africa going forward.

These stakeholders include the general public and the media, SARIPA, Business Rescue Practitioners (BRP's), the New Insolvency Court, Universities and Educational institutions, the Institute of Directors, the South African Institute of Chartered Accountants (SAICA), Trade Unions, Financial Institutions (Banks), Competition Authorities, the Department of Mineral Resources and Energy (DMR), and the Companies and Intellectual Property Commission (CIPC).

These are issues which will be considered and debated by our panel on the 15th of April.

Do not miss out on what promises to be a highly relevant and intriguing debate!