Getting rescued or going out of business
Cape Times | Daniel Terblanche | 30 April 2014
The Key to getting a business back on its fee is providing the right advice and doing so early. Although business rescue provides companies with a shield of protection through a moratorium on asset repossessions by creditors os the companies with the potential to become financially viable and solvent again.
Judge Tsoka, in Welman vs Marcelle Props 193 CC judgment, endorsed the process when he said: “Do not wait until tool late – business rescue proceedings are neither for the terminally ill..nor for the chronically ill”.