Business rescue practitioners in SA are likely to be much in demand

South Africa is likely to face more business rescues than it did last year through the Covid-19 pandemic. This could be because the government had not amended business insolvency legislation and no temporary insolvency relief measures were put in place to address the economic devastation brought on by the extensive lockdown that had left the South African private sector in need of desperate rescue.

Business rescue practitioners in SA likely to be much in demand

Cliffe Dekker Inc Business Rescue, Restructuring; Insolvency Sector head and director Tobie Jordaan, in an interview with Business Report, said that government data shows there were 233 filings for business rescue in the seven months between April 7, 2020, and the end of October.