Business Rescue Proceedings and Suretyships

Business rescue imageOne of the concepts introduced by the Companies Act 2008 is Business Rescue proceedings. These proceedings provide for financially distressed companies a prospective outcome to remain commercially viable entities.

 

The focus of this article is to consider the implications creditors face in these hard times. If one of your customers runs up a substantial debt and finds itself in a financial predicament necessitating Business Rescue proceedings, you may find yourself with two potential scenarios.

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