Introduced in 2011, business rescue has become a commonplace term in SA’s corporate landscape. But as familiar as it might be, perception of its success is poor and, increasingly, business rescue proceedings appear to be inordinately long and harrowing.
It’s an opportunity for a business to step back, rethink, restructure and hopefully secure a better return for the creditors and especially employees. Top of mind are those businesses linked to the Gupta family which were placed in business rescue in February 2018 when they became unable to transact. Because it was only the lack of banking facilities which caused their distress in the first place, the rescue practitioners believed the companies could be saved simply by selling the assets to new owners who have not fallen out of favour with financial institutions.
Vantage Goldfields SA was placed under business rescue three years ago, just months after a tragic accident at its Lily mine near Barberton where three miners were trapped underground after a ground collapse. The business remains in rescue and, with a dispute over funding with the prospective new owner tied up in the courts, the rescue practitioners are considering liquidation.The drawn-out nature of business rescue would appear to be increasingly normal.
This use to be an good functional mine
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
EDITORIAL: Business rescues drag onAlthough the success rate is low, it is often a better way forward for distressed companies
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »
EDITORIAL: Brexit delay ushers in more uncertainty for SA businessTrade with the remaining 27 EU members would have been disrupted as components imported from the UK would now be classified as coming from a third country
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »