CRS Business Rescue
Business rescue services offered

Business rescue services client submission form

By furnishing the information below, you will enable us to best respond to your needs when contacting you.

We will respond with an opinion on the appropriate approach for you to take, implications that you should be aware of, the procedure to follow to commence business rescue, appointment of the business rescue practitioner, and costs involved.

Your form will be transmitted over a secure server on the internet.

Information received will be held confidential, is for internal CRS Business rescue purposes only and will not be used for any other purpose without your consent.

Please read our Privacy policy for more information.

 

How to complete the business rescue services client submission form

Note that all fields marked with an asterisk (*) are compulsory - failing which the form will not be submitted!

 

Your contact details

*

Your name:

 

*

Company name:

 

*

Land line number:

 

*

Cell phone number:

 

*

Email address:

 

 

Your capacity relative to the financially distressed company/CC

*

 

 

 

Legal form of the financially distressed firm

*

Legal entity:

 

 

Information required to determine the firm's Public Interest Score

*

Average number of employees at the end of the past financial year

 

*

Third party liability at the end of the past financial year (R'm)

 

*

Turnover at the end of the past financial year (R'm)

 

*

Number of individuals at the end of the past financial year, in the case of a profit company, to directly or indirectly have a beneficial interest in any of the company's issued securities

or

Number of individuals at the end of the past financial year, in the case of a non-profit company, to be a member of the company, or a member of an association that is a member of the company

 

For more information, see Regulation 26(2).

 

Degree of financial distress

*

Factual insolvency

it appears to be reasonably likely that the company/CC will become insolvent (liabilities exceeding assets):

(See Section 128 (1)(f)(ii)).

 

 

*

Commercial insolvency

it appears to be reasonably unlikely that the company/CC will be able to pay all of its debts as they fall due and payable:

(See Section 128 (1)(f)(i)).

 

 

*

Funds for survival until the business rescue plan is approved by creditors

Most companies and CCs die during business rescue due to lack of funds to pay the business rescue practitioner, and ongoing mission critical expenditure e.g. suppliers on a COD basis, salaries, wages, etc.  Do you have funds available to survive during business rescue for longer than a month?

 

 

 

Causes of financial distress

*

Check all causes that are applicable.

 

    Mismanagement
    Lack of financial controls
    Ineffective marketing
    Production problems
    Outdated technology
    Big project gone wrong
    Acquisition gone wrong
    Wrong financial structure
    Changes in market demand
    Too strong competition
    Adverse movements in input costs
    Changes in government policy
    Strike/labour problems
    Fraud
    Legal claims

 

Any additional causes of distress?

Feel free to further elaborate.

 

 

Economic viability

*

Your business is financially distressed.

The business rescue plan need to demonstrate that your financial distress is of a temporary nature and that your business is economically viable.

Why do you believe the business is economically viable?

 

 

Business rescue status

*

Have liquidation proceedings been initiated by or against the company/CC?

 

*

Have your overdraft facilities been cancelled and your ceded debtors book been called up?

 

*

The company/CC is presently:

 

Voluntarily business rescue refers to section 129: Company resolution to begin business rescue proceedings.

Voluntarily business rescue but with an objection refers to section 130: Objections to company resolution.

Compulsory business rescue refers to section 131: Court order to begin business rescue proceedings.

 

Company/CC profile

 

Industry:

 

 

Typical products / services:

 

 

Estimated market share:

 

 

Office locations:

 

 

Bank(s):

 

 

No. of years in business:

 

 

Brief history of your business:

 
 

Ownership - % per shareholder/member):

 

 

Unionised?

 

 

CRS Business Rescue services requested

*

Check all that are applicable.

 

    Consultation
    Telephonic consultation plus written opinion
    Face-to-face consultation plus written opinion

    Seminar/Workshop
    Business rescue seminar/workshop for the directors and senior executives of the financially distressed company

    Assessment
    Business rescue viability assessment

    Appointment
    As business rescue practitioner
    As advisor

     
 

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