This blog was co-authored with Thokola Zungu, Candidate Attorney.

The Supreme Court of Appeal concluded that a right of action falls within the meaning of ‘movable property’ as defined in the Insolvency Act and vests in the trustees. Thus, by operation of the law, the trustees become the owners/holders of the right of action.

This blog was co-authored with Aqeelah Petersen, Candidate Attorney.

The board of a company may resolve that the company voluntarily begin business rescue proceedings and place the company under supervision, if the board has reasonable grounds to believe that the company is financially distressed and there appears to be a reasonable prospect of rescuing

Insurance policies, particularly commercial policies providing business interruption, may contain provisions dealing with the consequences which flow for the parties, and the question of continuing cover and any indemnity, in the event of the liquidation of an insured.

The relevant clauses are often outdated and should be reviewed having regard to the relevant provisions of

SCA gives clarity on the meaning of conflict of interest for business rescue practitioners

In February 2018, eight companies in the Oakbay Group were placed in voluntary business rescue. Amongst these companies were the first respondent, Tegeta Exploration and Resources (Pty) Ltd, and its three subsidiaries, Optimum Coal Mine (Pty) Ltd (OCM), Koornfontein Mines (Pty)

Voluntary business rescue applications filed with CIPC during 24 March to 30 April 2020 will be processed by CIPC to reflect the dates on which they were filed. These applications do not have to be resubmitted.  Similarly, the appointment of business rescue practitioners that were filed with CIPC during 24 March to 30 April 2020

Business rescue offers a very useful alternative to the liquidation or winding-up of a company. During and after the pandemic, many companies may have to consider whether business rescue is an appropriate response to the economic impact that COVID-19 may have had on their business.

Here are 10 things to know when considering business rescue: