In view of the dire state of SA’s state-owned enterprises (SOEs), it comes as no surprise that there is heightened interest in not only the outcome of the SAA business rescue but also in whether such proceedings, as a process, are a workable solution for SOEs in general.
The objectives of business rescue are to either return a financially distressed company to solvency or, if that is not possible, to provide a better return to creditors or shareholders than what would be achieved from immediate liquidation of the company. ..
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