These two Masterclasses are complimentary.
The standard will be at a higher level than the turnaround professional certification programme of the Turnaround Management Association - Southern Africa in that basic knowledge and skills are assumed to have been mastered. Additionally, the scope will be wider - including what one needs to know about business rescue that is not evident from reading Chapter 6. Yet the courses will be of value to both novices and veterans.
The Business Rescue Masterclass covers the legal framework of Chapter 6 turnaround (turnaround in terms of the business rescue provisions of Chapter 6 of the new Companies Act).
It does not, however, cover generic turnaround management of a company under business rescue practitioner supervision as such, which is addressed during the Turnaround Management Master Class the following day.
The Turnaround Management Masterclass covers the turnaround management of under-performing and financially troubled companies in the informal sector (management correction and workout), as well as Chapter 6 turnaround (Business Rescue) of financially distressed companies.
This class is important for business rescue practitioners since experience in turnaround practice determines whether a practitioner is classified as a junior (less than 5 years' experience), experienced (at least 5 years' experience) and senior (at least 10 years' experience) business rescue practitioner.
To understand the legal and practical implications of new business rescue legislation as contained in Chapter 6 of the Companies Act No. 71 of 2008 and the Companies Amendment Act No. 3 of 2011, amplified by business rescue regulations as contained in the Companies Regulations, 2011 and reviewed in the King III business rescue recommendations.
Part 1 deals with the context of business rescue legislation and the business rescue industry:
The context of business rescue legislation - intent, justification, paradigms on the treatment of commercially or factually insolvent companies, timeline of financial distress (management correction, workout and "Chapter 6 business rescue), advantages and disadvantages over informal sector turnaround, pre-packaged business rescue, business rescue success rates overseas (adoption/confirmation of the business rescue plan, implementation. overall), characteristics of companies that are likely to succeed in business rescue.
Part 2 covers the process, players and implications for stakeholders:
Part 3 summarises insights, learnings and advice:
To learn how to conduct informal sector turnaround of under-performing and financially troubled companies, as well as Chapter 6 turnaround (business rescue) of financially companies.
The bias will be towards evidence-based turnaround and business rescue knowledge from scholarly research, but supplemented with practitioner opinions and popular textbook content.
Pre-reading of selective pre-distributed course material is required to obtain full value from the Masterclass.
Delegates will receive the full course material on a CD rather than in hardcopy format in a file. Attending with a notebook computer is therefore advisable.
These two one day Masterclasses, including lunch, will be offered in Johannesburg on a Thursday and Friday, but no dates have been set yet. The first classes will probably take place in July 2011.
Jan van der Walt has been strongly involved in submissions and workshops on new business rescue legislation and regulations, including membership of the King III Business Rescue subcommittee, and is the author of this website. As a veteran turnaround practitioner, his experience is now supplemented by his doctoral research in turnaround and business rescue.
R3 000 per workshop day plus VAT (R6 000 plus VAT for both workshop days).
Delegates need to arrange for own transport and accommodation.
Pre-commencement business rescue services to financially distressed companies
Post-commencement business rescue services to financially distressed companies