What We Do
In the high-stakes environment of Chapter 6 proceedings, you need a practitioner who has sat in the CEO's chair.
Core Services
MJBusiness Rescue provides a full spectrum of services for companies in financial distress — from early intervention through to formal Chapter 6 proceedings.
When a company is financially distressed, a registered Business Rescue Practitioner takes full management control under Chapter 6 of the Companies Act 71 of 2008. From Day 1, Mike Benfield acts decisively to stabilise operations, protect assets, engage all affected parties, and develop a Business Rescue Plan that offers a better outcome than liquidation.
Before filing for business rescue, boards and executives need to know whether there is a "Reasonable Prospect" of rescuing the company — the legal threshold under Chapter 6. Mike Benfield offers a confidential pre-filing assessment that evaluates whether rescue is viable, what the prospects are, and what the process will entail.
Not every company in difficulty needs to enter formal business rescue. For companies experiencing operational or financial stress but not yet in formal distress, MJBusiness Rescue provides operational restructuring and turnaround strategy — helping management identify systemic issues and design a recovery path before the situation becomes critical.
Boards have a legal obligation to act when a company becomes financially distressed. MJBusiness Rescue provides objective, independent solvency and liquidity stress-testing for boards — giving directors the financial clarity they need to fulfil their fiduciary duties and make informed decisions.
Key Outcomes
We prioritise saving the business, but if that is impossible, we ensure a higher return for creditors through a controlled wind-down.
Utilising Mike's experience managing thousands of employees, we actively consult with unions to minimise retrenchments.
Leveraging Mike's debt-raising experience to secure the vital new capital needed to keep the doors open during the rescue process.
Act Early
Early intervention is almost always more effective than delayed action. The sooner a Business Rescue Practitioner is engaged, the more options are available — and the better the outcome for all stakeholders.
Contact Mike for a Strategy Session