LEGAL PRACTITIONERS and Other Service Providers!

WELCOME. SIYAKWAMUKELA.
WAMKELEKILE. WELKOM.

This is your FIRST STEP if you are looking for legal or professional support. We:

Guarantee a response within 1 working hour,
Are uncomplicated, friendly and professional,
Our fees are sensitive to the South African economy,
Have a team of professionals in all major Cities,
Function with integrity, attention to detail and are objective driven,
Use technology, innovation and internal processes to streamline your experience,
Strive to improve the sector we operate in.

SERVICES | AMASEVISI

In our ‘team’ we have Legal Practitioners (Lawyers & Attorneys) and other Professionals who offer parallel solutions. Our website menu items LEGAL PRACTITIONERS and OTHER PROFESSIONALS offer a summary of services and will help you decide which type of service provider to use. Please review both pages. Afterwards, if you are still not sure who to use please ask for guidance using the Immediate Action Form on the Contacts Page.

FREE OR FEE? SIMAHLA OKANYE UHLAWULE?

For free services you could engage with an organization such as legal-aid.co.za or visit justice.gov.za for free information. Depending on your issue any of the following organizations might be appropriate and mandated to help for free:

The National Consumer Commission,
CGSO,
CCMA,
Housing Tribunal,
For insurance or banking issues, you should contact the appropriate ombudsman.

If you are looking to hire a Professional we guarantee that the fees quoted will be reasonable and you will not be charged anything until you have accepted a quote or entered into an engagement letter. Payment options will be communicated and might include hourly, per project, fixed rate or retainer. See a Cost Guideline HERE. The use of a Legal Practitioner or Court should be engaged with only once you have exhausted all amicable and free options, or if the matter at hand needs legal guidance and an expert to expedite a solution.

E-CONSULTS

An E-Consult is an effective way to receive expedited support for select, once off or ad hoc matters. Please visit the menu item for more information on this process. CLICK HERE

OPERATIONAL DAYS & TIMES

South African Working days. No public holidays.

Monday-Thursday from 09h00-13h00 and 14h00-16h00.
Friday 09h00-13h00.

Commercial Restructuring Law

- Featured article by LAWYERS-ONLINE.CO.ZA - June 2019

With the introduction of the Companies Act 71 of 2008, which came into effect in 2011, companies who find themselves in financial distress are now afforded to opportunity to attempt corporate restructuring, or business rescue, in order to avoid bankruptcy. This replaces the old system of judicial management and makes way for a new way of looking at business in need of help while keeping the needs of all stakeholders in mind.

Under the act, a company may approach a business rescue practitioner who may be able to advise them on how to reorganise and restructure their business in order to turn it back into a profitable entity once again. Some of these actions include creating a payment scheme for creditors, ensuring that jobs aren’t lost and eliminating those areas where the business may be bleeding money. It is exactly what the name says, a restructuring of the commercial entity in order to make it run more efficiently.

The ultimate goal of business rescue is to rehabilitate a company to the point that is no longer considered financially distressed. This also includes placing a moratorium on any liquidation proceedings when a company is the process of business rescue – which may, in turn, affect the creditors, shareholders and employees of the company. Not an easy task to balance both sides of the coin. Although not entirely accurate, let’s look at an example of a “compromise” between a commercial entity and creditor. A recent large clothing retailer found itself in financial distress and as part of its restructuring attempts, it struck a deal with its landlords in various locations. In exchange for a considerable reduction in rent, the landlords were promised a share in the profits when the retailer got back on its feet again. Compromises like these are provided for under section 155 of the act.

In order to qualify for commercial restructuring, a business needs to prove that it is in fact in financial distress – which means they are unable to pay all their debt within the next 6 months, after which they will be insolvent.

If you are in need of advice regarding commercial restructuring, do not hesitate to send us a query and we can refer you to a commercial lawyer who can advise on the best business rescue practices.

E-BOOKINGS

BOOK NOW