Restructuring/Insolvency

About

Provided by Werksmans Attorneys

The Werksmans Insolvency, Business Rescue, and Restructuring practice is well placed to assist directors of such companies as well as all stakeholders (especially creditors) in dealing with the prospect of entering into a formal process, such as business rescue or liquidation, and to provide effective legal advice to ensure a maximum recovery outcome for all concerned.

Business rescue and insolvency services include:

• advising companies trading in what may be insolvent circumstances;​
• advising on whether creditors should make application for business rescue as opposed to liquidation;
• assisting creditors in attending meetings and dealing with their claims and securities in business rescue;
• liaising with the business rescue practitioner and existing directors;
• advising in relation to the provision of post-commencement finance;
• advising on the general moratorium on legal proceedings against a company which has filed for business rescue;
• protection of property interests;
• advising on the effect of business rescue on contracts;
• dealing with the section 155 compromise between the company and its creditors;
• advising on the commencement and administration of the insolvency process including proof of claims;
• advising on cross-border recognition of liquidators and the attachment of assets in foreign jurisdictions; and
• providing support in forensic legal issues arising from liquidation proceedings.