Business Rescue Specialist – Exam Only

Get authorised to perform business rescues in terms of the Companies Act, 2008.

Date:

1 December, 2024

Time:

Available from 08:00

Hours:

80 hours

CPD Units:

Category:

Business Rescue

Group:

Channel 3: Specialisation

Format:

Self-study

Product Information

The South African economy was placed under pressure beginning with the Covid 19 pandemic. More and more companies are facing severe financial distress and as a result there is an urgent requirement for the application of the business rescue process. We have seen high profile business rescue filings in the news such as SAA, Comair, Edcon and Pumulela.

Never before has the Business Rescue process been as relevant as it is right now!

Business rescue provides an alternative option for saving a company teetering on the brink of insolvency, that of a fresh start, and needs to be considered by all those involved with the failing entity. The Companies Act no 71 of 2008 allows accountants to become Business Rescue Practitioners, opening up a new revenue stream for their businesses. Business Rescue is a specialist area and a Business Rescue license provide the evidence required that you have mastered the subject area and will be able to deliver quality work as a Business Rescue Practitioner(BRP).

CIBA is a CIPC accredited professional body for business rescue practitioners and offers a practical exam preparation course, to qualify as CIBA Licensed Business Rescue Practitioners.

The development and presentation were done by Dr Eric Levenstein. He has been involved with assisting boards of directors and financially distressed companies with restructuring and rescue mandates for over 30 years, achieving successful restructuring and turnaround of companies that were on the verge of collapse.

As specialist in Business Rescue you will stand out from the crowd, be able to attract more clients and earn a higher income.

More About Business Rescue

Restructuring and reorganising of companies in financial distress rather than going the pure liquidation route is on the increase globally. In line with this trend, the Companies Act no 71 of 2008 facilitates business rescue in the South African landscape.

The purpose of business rescue is to maximise the likelihood of a company continuing in existence on a solvent basis. The key to business rescue will be the successful development and implementation, if approved by creditors, of a plan to rescue the business by restructuring its affairs.

The Act provides for this process of reorganising a company’s operations, assets liabilities and equity. Financially distress business that take a decision to start rescue proceedings can file a notice with the CIPC. A practitioner is appointed by the CIPC, which requires that he/she be a good standing member of an accounting, legal or business management profession.

TEXTBOOK

The study guide and units refers to sections within the following prescribed textbook for participants own account:
South African Business Rescue Procedure

Dr Eric Levenstein (November 2019 – issue 3) LexisNexis South Africa
ISBN/ISSN: ONLBRPISA2017 (Online copy) or
ISBN/ISSN: 170SABUSRESYS (Print & Mobile)

A 10% discount is available to CIBA members who enroll in this course.

What will set you apart

As a CIBA licensed practitioner, you will:

Be equipped with the necessary skills to fulfil their statutory duties in accordance with the letter of the law.
Be guided on how to advise and protect the interests of directors, creditors, shareholders or employees of a company in financial distress.
Understand and practically apply the provisions of the Companies Act pertaining to all legal aspects of business rescue.
Be able to register with the CIPC as a Business Rescue Practitioner.
Have evidence of your competence in the Business Rescue specialist area.
Qualify to register for CIBA’s “Experience-through-exposure” (ETE) programme.

Event breakdown

The License consists of the following 12 study units. For a list of the topics included within the 12 units Business Rescue License – Contents.

Introduction to Business Rescue and Important Definitions
Grounds for Commencement of Business Rescue Proceedings
Commencement by Board Resolution
Commencement of Business Rescue proceedings by Order of Court and the duration of Business Rescue
Legal consequences of Business Rescue Proceedings: The General Moratorium on legal proceedings and the Protection of Property Interest
Legal consequences of Business Rescue proceedings: Effects on Employment and Other Contracts
Post Commencement Finance
Legal consequences – The effects on Shareholders, Directors and Creditors
The Business Rescue Practitioner: Qualifications and Appointment
The Business Rescue Practitioner: Power, Duties and Liabilities
The Business Rescue Plan
Compromise with Creditors in terms of Section 155

Certificate

The following event is awarded 17 CPD units in Business Rescue

Presenter/s

- Select -

Ané Churc his a passionate ethics educator at the University of the Free State, Ané specialises in auditing and governance with a focus on professional integrity.