Jul 7,2020 / News / Legal Brief

Walking the Tightrope of Financial Distress – Challenges for directors of financially distressed companies in a COVID-19 World

The COVID-19 is a human tragedy of enormous proportions. There will be both short and long-term economic implications as countries continue to grapple with an effective way to limit the spread of the coronavirus and which will allow economies to be kick-started in the near term. Will a recessionary economic climate be the new norm? What restructuring tools are available to promote businesses and jobs? How do directors, business leaders and professionals deal with this ever-evolving situation and the implications it holds for companies.

Please join LexisNexis CEO, Videsha Proothveerajh for an interview with Dr Eric Levenstein, Director and Head of the Insolvency, Business Rescue and Restructuring Practice Group at Werksmans attorneys for an update on 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 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 the business rescue process.
  • The role that leadership plays in ensuring the sustainability of a company.

South Africa and the world face unprecedented and very tough economic trading conditions. Many South African companies/businesses which appeared to be financially healthy a few months ago, now find themselves facing severe financial stress. Find out the options you have as a company and what you can do now to ensure that your business is sustainable post COVID-19.

Ensure your business is sustainable post COVID-19.

Register  now.