Quick Answer What Is Business Rescue in South Africa? Business rescue is a legal process under Chapter 6 of the Companies Act: a financially distressed company gets a temporary freeze on creditor claims while an appointed practitioner restructures the business to save it – or at least achieve a better outcome than immediate liquidation. What this means in plain language The company is “financially distressed” when it cannot pay its debts as they fall due, or is likely to hit that wall within six months. Rescue pauses enforcement, puts a practitioner in charge of a rescue plan, and gives creditors a vote on it. Timing is everything: directors who act…