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Advancing credit to financially distressed companies

28 October 2021

Advancing credit to financially distressed companies

 

In South Africa, 2021 has seen several companies going out of business and with many turning to the business rescue process. South African creditors should realise that business rescue (as a restructuring tool for severely distressed companies) generally provides a “better” outcome than liquidation, and thus should seriously consider supporting the process. Unsecured suppliers/creditors facing the liquidation of its customer would in all likelihood receive a zero (or negligible) dividend after all secured and preferential creditors have been paid in liquidation.

 

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