Business rescue practices in South Africa: An explorative view

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dc.citation.doiDOI: https://doi.org/10.4102/jef.v11i1.188en_ZA
dc.citation.issue1en_ZA
dc.contributor.authorNaidoo, T
dc.contributor.authorPatel, A
dc.contributor.authorPadia, N
dc.date.accessioned2019-11-04T08:10:36Z
dc.date.available2019-11-04T08:10:36Z
dc.date.issued2018-06-20
dc.description.abstractGiven the seemingly low rate of success of the current business rescue regime (at just 13.6% as at June 2015), this study sought to identify whether the current business rescue regime in South Africa realises its intended objectives and why this meeting of objectives or failure to do so may be the case. It focuses on practical issues and the investigation is undertaken through interviews with business rescue practitioners who are the facilitators of business rescue. The findings show that there is a lack of clarity in the definition of success which may be cause for concern and that, despite its consistency with other jurisdictions, in the views of practitioners, the success rate is expected to improve. The study finds that there is a lack of prompt action when signs of financial distress are noted and a lack of funding for companies in business rescue. The experience of the practitioner has a significant impact on the success or failure of the rescue and may be one of the reasons for the current low rate of success of the regime, while the specific qualifications of the practitioner play a smaller role. The plan is imperative but there is often a lack of information and insufficient time allocated to its preparation. Consistency of Court judgements also has a bearing on success of business rescue, while consistency with provisions of other jurisdictions is not considered to be important.en_ZA
dc.description.librarianTT2019en_ZA
dc.identifier.citationNaidoo, T., Patel, A. & Padia, N., 2018, ‘Business rescue practices in South Africa: An explorative view’, Journal of Economic and Financial Sciences 11(1), a188. http://dx.doi. org/10.4102/jef.v11i1.188en_ZA
dc.identifier.issn(Online) 2312-2803
dc.identifier.issn(Print) 1995-7076
dc.identifier.urihttps://hdl.handle.net/10539/28332
dc.journal.linkhttps://jefjournal.org.za/en_ZA
dc.journal.titleJournal of Economic and Financial Sciences
dc.journal.volume11en_ZA
dc.language.isoenen_ZA
dc.publisherAOSIS (pty) Ltden_ZA
dc.rights© 2018. The Author(s). Licensee: AOSIS. This is an Open Access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.en_ZA
dc.subjectBusiness rescueen_ZA
dc.subjectCompanies Acten_ZA
dc.subjectRescue practiceen_ZA
dc.subjectPractioneren_ZA
dc.subjectSouth Africaen_ZA
dc.titleBusiness rescue practices in South Africa: An explorative viewen_ZA
dc.typeArticleen_ZA
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