At a Webber Wentzel webinar held on 3 June 2020, we discussed how formal business rescue proceedings can assist financially distressed businesses to continue on a solvent basis post Covid-19, and in cases where this is simply not possible, to obtain a better return for employees, creditors and shareholders than would result from immediate, 'free fall' liquidation. We also explored practical informal considerations and pre-emptive steps for businesses that are not facing imminent financial constraints to ensure they sustain through challenging times.
