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Leadership in a time of crisis: Business rescue

April 29, 2020 @ 8:00 am - 9:00 pm IST

Free
saica

Webcast # 14: Leadership in a time of crisis: Business rescue

Who should attend?

SAICA members and associates [CA(SA)/AGA(SA)/AT] and trainees and members of the public

Overview

We are aware that the South African government will do everything it can to assist struggling businesses in the wake of the coronavirus. However, the harsh reality is that many businesses, especially the more vulnerable small and micro businesses, will take a huge knock in the coming months. This will come either directly as a result of shutdowns and restrictions, or indirectly as a result of the struggling global economy.

Early intervention is key to ensuring the best outcome for companies in distress. Unfortunately, many business owners simply don’t know where to turn when they find themselves in difficulty.

Our experts today will take the audience through the business rescue process, when is it applicable, practical steps that you can take today and real-life examples of business rescue success stories with the ultimate aim to limit the number of insolvencies and job losses over the coming months through pre-emptive rescue and turnaround interventions.

Specific topics to be covered are:

  • How to implement a turnaround outside of business rescue.
    • What are the alternatives to BR?
  • Business rescue (BR):
    • An overview.
    • The legal framework.
    • The pros and cons.
    • The process to enter business rescue.
  • The practical approach
    • What to look-out for as a business owner?
    • The business rescue practitioner (BRP) –
      • What to ascertain before appointing?
      • Are they up to the task?
    • How will the rescue be funded?
      • The role of the Shareholders.
      • Banks.
    • What is the impact on –
      • The shareholders?
      • The Directors? The staff?
      • The company and the decision making process?
    • How will staff be affected.
    • What part do the Courts play?
    • The BR Plan – what’s it all about?
    • The implementation of the BR Plan.
    • Coming out of rescue.
  • Industry specific issues and pointers.
  • Q&A
  • Wrap up

Programme

08h00 – 08h45

Presentation

08h45 – 09h00

Q&A

About our presenters

PETER CAMERON GORDON – B Compt CA(SA)

Peter has over 40 years international experience in business, banking, corporate finance and professional practice.  He also has strong involvement in global markets, risk assessment, business recovery, wholesale and retail banking, African expansion, company turnarounds, consultancy, M&A, capital raising, corporate finance, management and training.

Peter has run Crest Capital, a corporate finance and risk business, for the past 16 years. Within Crest he specialises in M&A, capital raising and business turnaround. He is a senior business rescue practitioner. Peter’s turnaround experience dates back to 1992 when he joined NatWest Bank – London tasked with sorting out financially distressed companies. In 2010 he was appointed as Executive Chair of a failing listed financial services group which had been subjected to management fraud. More recently he has been involved in business rescues, informal turnarounds, capital raising and business disposals. He advises clients on corporate strategy, restructuring and risk evaluation. He has worked extensively with SMME’s in the emerging market, and developed and ran a mentorship programme for a BB-BEE investment fund covering around eighty investments across many industries with a country wide team of thirty mentors. He has advised DFI’s and local banks on a number of significant development projects and investments.

Prior to forming Crest, Peter was an executive member and credit committee member of Absa Corporate & Merchant Bank where he carried executive responsibility for all Absa’s foreign operations. At Absa he enjoyed a credit mandate at executive level. Prior roles at Absa included Head – Mining Finance Division, Head – Africa operations and a member of the Project Finance Team.

He is current chair of Macquarie Securities South Africa Limited and a board member of Ascon Africa. His pro-bono appointments include past chair of The Thembani International Guarantee Fund, an NGO providing financial assistance to disenfranchised communities, and head of the finance committee at St Johns College – Johannesburg.

Peter is a CA(SA), a licensed senior business rescue practitioner and a member of the Turnaround Management Association.

Ian Flemming, Director – CA(SA), Certified Rescue Analyst (UP)

Ian discovered his passion for business turnaround-related activities shortly after qualifying as a Chartered Accountant.  He spent time at CMS Group which gave him a solid grounding in the world of corporate renewal and restructuring, debt recovery and insolvency, working with some of the industries’ top professionals.

Fulfilling leadership roles in various industries from investment banking to retail gave Ian invaluable experience and insight into the uniqueness and complexities of every industry; his constant thirst for strategic and analytical excellence, combined with a very strong ability to execute, allowed Ian to experience first-hand what is required to create exceptional businesses.

In 2008 Ian co-founded Debt-IN, a professional outfit specialising in the recovery of distressed debt.  Together with his industry experience, Ian brought to the table an unparalleled commitment to client service excellence, and an attitude that every project no matter how difficult it appeared on the surface, deserved to be given the best possible chance of success.  These values translated into unprecedented growth for Debt-IN, with the company receiving various accolades from its clients for its often-unsurpassed ability to unlock value.

With his constant need to “fix things”, Ian played key roles in the proprietary turnaround of a steel manufacturing company and a FMCG retail operation between 2011 and 2016.

In 2016 Ian co-founded Engaged Business Turnaround, a business rescue and turnaround outfit with a value proposition aimed at assuring stakeholders that the business in question is given the best possible chance of success under the circumstances, that stakeholders’ exposures are managed in their best interests, and that the quality and credibility of the feedback to stakeholders allows for the most educated level of decision making.

Ian is a CA(SA), licensed business rescue practitioner and a member of SAICA and the Turnaround Management Association.


Series Overview

Crises inadvertently create opportunity. Challenges and crises have the potential to ignite our greatest ideas, creative thoughts and leadership decisions as it forces us outside the norm. It is said that the best things lie just beyond our comfort zones.

It is against a backdrop of a global crisis as well as the recent downgrade by Moody’s, confirming the country’s sub-investment status and the accompanying dire economic prospects facing the country, as well as the impact of COVID-19 and the lockdown, it is easy to become despondent and fearful.

We’d like to encourage you during this time of uncertainty to take care of yourself and your family. But not only that, consider the impact of your actions on those around you. Fighting this pandemic and finding our new normal in the midst of uncertainty is not only necessary, but also our national duty.

Therefore, SAICA wants to encourage you, our members, in these unsettling and unprecedented times. To help address the challenges faced by many, SAICA will be hosting a complimentary virtual leadership series that will focus on various elements affecting individuals, businesses and the profession as a whole.

Details

Date:
April 29, 2020
Time:
8:00 am - 9:00 pm IST
Cost:
Free
Event Category:
Website:
https://saicaevents.co.za/saica-leadership-in-a-time-of-crisis-business-rescue/

Venue

Webinar

Organiser

SAICA