Walking the Tightrope of Financial Distress – Challenges for company directors in a Covid-19 world.
As Covid-19 continues to have a major impact on world economies and threatens the survival of companies and businesses, South African companies, too, are facing the prospect of trading in financially distressed circumstances. Directors might have little option but to consider filing for business rescue, and in certain instances liquidation. These unprecedented events will impact on the way we manage our businesses for months and years to come. Directors of companies will have their work cut out for them and tough decisions will have to be made.
Join Eric Levenstein, Director and Head of the Insolvency, Business Rescue and Restructuring practice at Werkmans Attorneys, and Videsha Proothveerajh, Chief Executive Officer of LexisNexis South Africa, for a facilitated conversation discussing the impact that the new economic dispensation will have on South African directors of companies and how they are expected to manage ongoing obstacles and challenges.
In this session Videsha Proothveerajh and Eric Levenstein will cover the following topics:
- Fallout for South African Businesses: A case study of companies that have been placed under business rescue in South Africa.
- Exploring opportunities to reset a company’s business.
- An analysis on formal versus informal restructuring.
- Advantages of Business Rescue and what a company stands to accomplish if they commence with Business rescue.
- The role that leadership plays in ensuring the sustainability of a company.
Ensure your business is sustainable post COVID-19.