Business Rescue
Introducing Enhanced Business Rescue Services with Cilliers & Reynders Inc.
In today’s dynamic economic landscape, navigating financial challenges can be complex, but you don’t have to face it alone. With a newly integrated Business Rescue division, Cilliers & Reynders Inc. offers an expanded scope of expertise to guide financially distressed companies through structured, supportive turnaround processes. In collaboration with STURNS, we bring decades of experience across multiple sectors, ensuring a comprehensive approach to business rescue that’s practical, compassionate, and results-driven.
What We Offer
Our Business Rescue services are dedicated to helping businesses restructure and stabilize operations to safeguard jobs, meet obligations, and set a viable path forward. This holistic service covers a wide range of industries, including:
Our Approach:
Partnership in Action
Business Rescue isn’t just a legal process; it’s a journey we undertake together. Cilliers & Reynders Inc. brings a team of dedicated professionals who offer a seamless blend of legal knowledge, strategic insights, and hands-on support. We work collaboratively with stakeholders to restructure debt, stabilise cash flow, and reposition businesses for sustainable growth. Through open communication and proactive planning, we ensure every step is manageable, understandable, and aligned with your organisation’s long-term goals.
Our Track Record
of Success
With experience handling complex business rescue cases for prominent clients—such as Woestalleen Holdings, Quikfood Supermarkets, Alpine Swiss Foods, Vantage Goldfields, and 1time Airlines—our team brings proven strategies to the table. We work across sectors, from logistics to manufacturing and mining, utilising frameworks that ensure the best possible outcomes for all parties involved.
Why Choose Cilliers & Reynders Inc.
for Business Rescue?
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Proven Experience Across Industries:
A track record of successful outcomes for companies in mining, retail, logistics, and beyond.
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Customised Strategies:
Tailored plans that align with industry best practices and client goals.
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Dedicated Support:
Compassionate guidance and communication with all stakeholders, ensuring a smooth and transparent process.
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Focused on Sustainable Outcomes:
Our primary goal is to ensure businesses can emerge stronger and more resilient from financial difficulties.
Our Team
Dr. Gert Holtzhauzen
Chief Executive Officer
Dr. Gert Holtzhauzen, the Chief Executive Officer at Strategic Turnaround Solutions (Pty) Ltd, brings an unparalleled depth of expertise in Business Rescue and Turnaround Strategy. He holds a Doctorate in Turnaround Strategy from the University of Pretoria and is an accredited Senior Business Rescue Practitioner recognized by the Companies and Intellectual Property Commission in South Africa.
With extensive experience at the executive level, Dr. Holtzhauzen’s background spans Commercial and Corporate Banking, complemented by specialized qualifications in taxation, insolvency, and accounting. His skill set aligns with the highest international standards, including the Certified Turnaround Professional program from the University of Chicago, USA.
Industry Leadership and Contributions
As a proactive member of various professional and management bodies, Dr. Holtzhauzen is committed to fostering positive change and advocating for effective regulations within the Business Rescue industry. His work emphasizes both formal and informal business recovery solutions, making him a sought-after leader in South Africa’s corporate recovery landscape.
Qualifications:
- Ph.D. in Turnaround Strategy, University of Pretoria
- Master’s in Business Leadership (MBL), University of South Africa (Unisa)
- Bachelor of Commerce (BComm), University of South Africa
- Postgraduate Certificate in Advanced Taxation, University of South Africa
- Postgraduate Certificate in Advanced Taxation, University of South Africa
Achievements:
- Academic Colours from the University of Pretoria (Ph.D.)
- Golden Key International Honour Society Member
Henk Cilliers
Director, Commercial
Having founded the firm in 1994, Henk’s focus is on commercial matters which involves an intricate knowledge of the following legislation: The National Credit Act, the Companies Act, trusts, veterinary legislation, consumer legislation, environmental laws such as the Biodiversity Act, and the national payment systems environment.
His approach to matters is to be pragmatic and provide a result. Time is always regarded as of the essence and he prides himself on constructive contributions and short turnaround times. To complement his natural acumen for business, Henk was ordained with an MBA degree through the Regent University in Virginia Beach, New York in 2013.
Henk is a supporter of a healthy lifestyle, doing endurance mountain biking. He is married with three gifted children. He also supports the principles of Ubuntu and mentoring a new generation. He enjoys his holidays at the west coast at Langebaan, Western Cape.
Contact Us
Today
Discover how Cilliers & Reynders Inc. can help your business navigate the complexities of financial distress with our enhanced Business Rescue services. Contact us for a consultation and to explore how we can support your path to recovery.
Frequently Asked Questions
What is business rescue?
Business rescue is a procedure aimed at rehabilitating a financially distressed company. The company is placed under the temporary supervision of a business rescue practitioner who manages its affairs. During this time, there is a moratorium on the rights of claimants against the company or its assets. A business rescue plan is then developed, which may involve restructuring the business, its assets, debts, liabilities, and equity.
What is the purpose of business rescue?
The purpose of business rescue is to restructure the company’s affairs in a way that enables it to continue operating in the future or, alternatively, to achieve a better return for creditors than what would result from liquidation.
Is business rescue a better alternative than liquidation?
Yes, if the company has good prospects of recovery. Business rescue aims to restore the company to profitability, preserving jobs and allowing it to continue contributing to the economy.
What is an affected person?
An affected person is anyone with rights throughout the business rescue process. This includes directors, shareholders, employees (or their representatives), and trade unions representing the company’s employees.
Who benefits from business rescue?
All affected parties can benefit from this process. Creditors may receive a better return than through liquidation, while the company itself may continue to exist, saving jobs and maintaining its role as a contributor to the economy.
Can any company be placed under business rescue?
No, only companies that are financially distressed and have a reasonable prospect of recovery can file for business rescue.
Can any business entity be placed under business rescue?
No, not all business entities are eligible. Only companies may file for business rescue. Trusts and sole proprietorships cannot apply for business rescue.
Can any business entity be placed under business rescue?
Yes, under the new Companies Act, a close corporation is classified as a company and can be placed under business rescue.
What is meant by financial distress?
A company is in financial distress when it is uncertain whether it can pay its debts as they become due within the next six months or when it is unlikely to remain solvent during that period.
When should a company file for business rescue?
A company should initiate business rescue proceedings at the first signs of financial distress. If distress worsens, other options, such as takeovers or liquidation, may become necessary.
Who may place a business in business rescue?
Any affected person may apply to the courts to place a company into business rescue. Alternatively, the directors may voluntarily file for business rescue, provided the company is financially distressed and has a reasonable chance of recovery.
How is a company legally classified in terms of its size?
A company is classified as small, medium, or large based on its public interest score, which also determines the category of business rescue practitioner qualified to oversee the process.
What is a public interest score?
A public interest score is used to determine a company’s size at the end of each financial year. Companies with a score of less than 100 are classified as small, those between 100 and 500 as medium, and those above 500 as large. State-owned or public companies with a score under 500 are classified as medium-sized.
How is the public interest score calculated?
A public interest score is calculated at the end of a company’s financial year as follows:
- One point for each average employee employed during the year.
- One point for every R1 million (or part thereof) of third-party liabilities.
- One point for every R1 million (or part thereof) of turnover.
- One point for each shareholder.
The sum of these points determines the company’s public interest score.