Record Details

Stakeholder expectations of the Business Rescue Plan from a South African perspective

Southern African Journal of Entrepreneurship and Small Business Management


 
 
Field Value
 
Title Stakeholder expectations of the Business Rescue Plan from a South African perspective
 
Creator Rosslyn-Smith, Wesley Pretorius, Marius
 
Subject — —
Description Background: A business rescue plan has to comply with a new and vague set of obligations regulated by South African legislation. Expectations of the plan are largely unknown, yet crucial in determining compliance. Establishing an effective benchmark for the plan is essential for the growth and success of the industry.Purpose: The study set out to answer these questions: What are the most crucial elements needed to fill the gap between the specifics of the Companies Act (2008) and the further elements needed to meet the plan’s primary objective of providing adequate information to stakeholders? What are the international principles applicable to rehabilitation plans and what elements underpin them?Method: Thirteen industry experts were selected and interviewed to identify the most crucial elements of the business rescue plan. Sampling was a combination of convenience and purposive sampling. Data collection obtained data on subjects’ opinions, rankings, agreement and ratings.Results: The study was able to confirm that there is indeed a gap between the mandatory elements prescribed in section 150(2) and the provision of sufficient information required by section 150(1) of the Companies Act No. 71 of 2008. The survey revealed that in the subjects’ expert opinion, the international principles are applicable to the business rescue plan.Conclusion: The crucial elements of the rehabilitation plan selected by the experts offer insight and clarity in terms of what is expected of the plan. Key words: Business Rescue, Companies Act, Business Plans, Measurement, Insolvency, Turnaround, Reorganisation
 
Publisher AOSIS Publishing
 
Contributor
Date 2015-06-23
 
Type info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion — —
Format application/pdf
Identifier 10.4102/sajesbm.v7i1.4
 
Source The Southern African Journal of Entrepreneurship and Small Business Management; Vol 7, No 1 (2015); 1 - 35 2071-3185 1015-3977
 
Language eng
 
Relation https://sajesbm.co.za/index.php/sajesbm/article/view/4/7
 
Coverage — — —
Rights Copyright (c) 2015 The Southern African Journal of Entrepreneurship and Small Business Management