Advanced Short Course in Business Rescue Practice (Online Course) WELCOME AND INTRODUCTION TO LEGAL EDUCATION AND DEVELOPMENT (L.E.A.D) With 30 years of experience, LEAD, the legal education division of the LSSA is well placed to understand the needs of a modern-day law practice. LEAD offers a wide range of top-quality courses, seminars and certificate programmes designed to give legal practitioners the knowledge and skills to manage their practices successfully. PURPOSE OF THE COURSE To equip students with knowledge on the implementation of business rescue proceedings. To explain and apply practically the provisions of the Companies Act of 2008 and other relevant laws regulating or applicable to business rescue proceedings, including the appointment and functions of a business rescue practitioner. The online course is a joint initiative between the Law Society of South Africa (LSSA) and the University of South Africa (UNISA). registration and execution are channelled LEAD. 2014 Lifelong learning towards a just society Legal Education and Development (L.E.A.D) Tel: +27 (0)12 441 4600 (switchboard) Website: www.lssalead.org.za Address: PO Box 27167 Sunnyside 0132 Docex 227 Pretoria Old Main Building, 145 Steve Biko Street, Sunnyside, Pretoria Page 1 of 7
BACKGROUND ON BUSINESS RESCUE Although judicial management had been part of South African company law for almost a century, it was never widely accepted or used in spite of attempts to improve it by amendments to the relevant legislation. The Companies Act 71 of 2008 introduced a newly created corporate rescue procedure in the form of business rescue proceedings. The purpose of the proceedings is to provide for the efficient rescue and recovery of financially distressed companies while ensuring the rights and interests of the relevant stakeholders are balanced. Having a successful and effective corporate rescue regime is of great importance to the economic growth and stability of this country. Steps have been taken to provide the framework for a more successful rescue procedure for viable businesses. However, it will require experienced and properly qualified business rescue practitioners as well as good faith and trust from all stakeholders to make this work in practice. This course will give you the necessary skills to act as a business rescue practitioner and fulfil your duties in accordance with the letter and spirit of the law. You will also be able to advise and protect the interests of your clients who may find themselves involved in business rescue proceedings as directors, creditors, shareholders or employees of a company in financial distress. APPOINTMENT OF BUSINESS RESCUE PRACTITIONERS The Companies and Intellectual Property Commission (CIPC) is responsible to appoint Business Rescue Practitioners and do so by matching the project to the nominee. Practitioners receive an interim conditional licence for each of their assigned projects. This licence lapses when the project comes to an end and a new licence must be issued for a new appointment. The issuing of interim conditional licenses for Business Rescue Practitioners is not automatic or guaranteed. Nonetheless, the CIPC regards the completion of a relevant training course / as an important factor when considering an application for registration. Other factors include the practitioner s experience in business management and sound professional standing. Having worked as a team member with a registered business rescue practitioner can also count in an applicant s favour. After completing the online course, students will be able to 1. Explain the concept and role of business rescue and the applicable principles of law; 2. Explain in detail the relationship between corporate governance and business rescue; 3. Provide advice to attorneys, accountants and other professionals appointed as business rescue practitioners. COURSE DURATION Six months WHO MAY REGISTER FOR THE COURSE? Professional people who are interested in understanding the principles of business rescue. This includes lawyers, legal advisors, auditors, financial advisors, bank decisionmakers, investors, businesspersons, liquidators, managers and trade union representatives. SYLLABUS There will be one module, divided into five study units STUDY UNIT 1: Provisions of the Companies Act, 2008 regarding commencement of business rescue proceedings: Requirements Procedure WHAT FORMER STUDENTS HAVE SAID "I found the contents of chapter 6 invaluable and it made such sense understanding business rescue and liquidation. It has added so much to my armoury as a change management consultant and re-engineering of an organization. Quite frankly it has given me a lot of confidence. I was very impressed. It helped me with two rescues that I did." "It was extremely well organized and all information was available on the e-leader website." "The content was very interesting, the workshop was brilliant and the admin was perfect!" "It is a dynamic new subject matter and the assignments were practical/real example based." "The course was well arranged and suited the busy professional." Page 2 of 7
STUDY UNIT 2 Provisions of the Companies Act, 2008 regarding the appointment and functions of a business rescue practitioner: Procedure for appointment Qualifications for appointment Removal Duties and personal liability Termination of business rescue proceedings STUDY UNIT 3 Legal consequences of commencement of business rescue proceedings STUDY UNIT 4 General moratorium Post-commencement finance Employment contracts and rights of employees Other contracts Effect on creditors and shareholders The business rescue plan Prescribed contents Consequences of approval Consequences of rejection STUDY UNIT 5 Compromises with creditors OTHER COURSE DETAILS Total credits: 12 Credits South African National Qualifications Framework (NQF): Level 8 Course code 76790 ADMISSION REQUIREMENTS An LLB or bachelor s degree incorporating a study of company law. Alternatively, an equivalent South African National Qualifications Framework (NQF) level 7 qualification. METHOD OF STUDY There are no formal classes. As the major part of the course will be studied online, it is required that students have access to an email account and the Internet. 1. Students are provided with a study guide to work through on their own. 2. Students will be provided with the prescribed textbook Dennis Davis et al Companies and other Business Structures in South Africa 3 ed (2013) published by Oxford University Press. 3. Tutorial letters and one formative assessment (assignments) will be made available online via LEAD s e-learning platform (e-leader). This will enable students to access the electronic distance education facilities in order to download study material and submit assignments. 4. Students will have to submit one assignment online that will contribute 20% to their final mark and write an open-book examination. The examination paper will be provided electronically to students who must then submit their answers to the examination 24 hours later, also electronically. 5. Workshops will be arranged in Gauteng, Cape Town and Durban, provided there is sufficient interest in these areas to make it financially feasible. 6. Formative assessment and examination admission will comply with UNISA s formative assessment rules and policies. 7. The language medium is English. Page 3 of 7
LECTURERS Professor Anneli Loubser Professor in Corporate Law (Lecturing on the Companies Act, 2008) UNISA Qualifications: BA LLB (Pret) LLM LLD(UNISA) Thesis title 'Some comparative aspects of corporate rescue in South African company law'. Admitted Attorney, Notary and Conveyancer Publications Professor Loubser has published extensively on the topic of business rescue in particular and has been quoted in judgments of the High Court of South Africa. She also contributed four chapters to Mars The Law of Insolvency in South Africa (9 edition), the standard textbook used by the courts. Fields of specialisation: Corporate Law and Insolvency Law Memberships: HOW TO APPLY? 1. Please complete the registration form and email it to bettie@lssalead.org.za together with : a copy of your identity document/passport; a copy of your highest degree obtained; proof of payment or payment details; and short curriculum vitae (Not more than two pages). 2. Note that for communication purposes, it is important to supply us with all your contact details i.e. e-mail address, landline, fax and a cell phone number. We will be unable to confirm a registration without an e- mail address. 3. If you do not receive confirmation of registration from LEAD within five business days, please immediately follow-up with Bettie Lubbe on bettie@lssalead.org.za. Member of the Litigation Committee of the Financial Services Board Member of the 3rd King Committee on Corporate Governance (sub-committee business rescue) Member of the Turnaround Management Association of Southern Africa Member of SARIPA Member of INSOL International and INSOL- Europe CLOSING DATE FOR REGISTRATION Registration closes 17 February 2014. The study guide will be posted to students after the closing date. Students residing in Gauteng may collect their material. This needs to be arranged with Bettie Lubbe from LEAD s office in Pretoria. Professor Mpfari Budeli Professor in Labour Law (Lecturing on Labour Law) UNISA Qualifications: LLB LLM (Unin) PhD (UCT) Courses taught: Advanced Labour Law; Collective Labour Law; Labour Law; Occupational Health and Safety Law Field of specialisation: Labour Dr Michael Lehloenya Senior Lecturer in Corporate Law (Course leader and lecturing in Corporate Law) UNISA. Qualifications: BA (Law) LLB (Lesotho) LLM (Pret) LLD (UFS). Courses taught: UNISA: Advanced Corporate Procedures; Corporate Procedures; Entrepreneurial Law; Commercial Law; Company Law Fields of specialisation: Corporate Law, and International Trade Law FEE STRUCTURE (VAT INCLUSIVE) Student Practising attorneys and candidate attorneys Total Fees Payment Plan Amount payable on registration (initial payment) Balance payable before 15 March 2014 R5 100 R2 600 R2 500 Other R6 500 R3 800 R2 700 Payment can be made in full or through a payment plan (see above). The initial payment should be made upfront by credit card or direct deposit. No registration will be confirmed if the proof of payment of at least the initial payment has not been received by LEAD. Page 4 of 7
CERTIFICATE Upon successful completion of the course and payment of the full tuition fee, a certificate will be issued jointly by UNISA and LEAD. PLEASE NOTE LEAD reserves the right to cancel a learning activity should the number of delegates not justify the costs involved. Registered delegates will be given reasonable notice of cancellation. CANCELLATION PROCEDURE A student will only qualify for a refund should he/she cancel his/her attendance in writing before commencement of the course and before receiving material, subject to deduction of a cancellation fee of R500. Should a participant discontinue his/her training prior to the end of the course, he/she would be responsible for the full tuition fee The only exceptions are if the reasons for cancellation are one of the following: Death of a close family member (death certificate should be submitted); Severe medical condition which results in the student no longer being able to continue with the course (medical certificate should be submitted); LSSA/UNISA has the right to terminate a student s participation should the course fee not be paid as required in which case the learner would still be liable for payment of the full course fee. TERMS AND CONDITIONS OF REGISTRATION Each LEAD learning activity (seminar, workshop, course etc.) has different terms and conditions of registration. Please refer to the website (www.lssalead.org.za) for more details on the terms and conditions specific to this learning activity or contact LEAD on 012 441 4600. ENQUIRIES For more information and registration for this offering, please consult the LEAD website or contact Bettie Lubbe at LEAD: E-mail: bettie@lssalead.org.za Tel: +27(0)12 441 4670 Page 5 of 7
REGISTRATION FORM Advanced Short Course in Business Rescue Practice (76790) Please attach the following to your registration - A copy of your identity document/passport A copy of your highest degree obtained Applicant s Details Complete in block letters and e-mail to bettie@lssalead.org.za A short curriculum vitae (not exceeding 2 pages) Proof of payment or payment details Surname: Full names: Title: Preferred Name: Docex/Postal address (Docex preferred): ID number: Race: For reporting purposes Code Residential address (home): Code Tel no (w): ( ) Fax no : ( ) Employer: Occupation: Qualification/s: Cell no : E-mail address : Where did you hear about the course? SMS Word of Mouth Newspaper Employer E-mail Other Employer Details (Please complete only if the Applicant is sponsored by the employer) Firm/company name: Tel: ( ) E-mail address Contact person: Job title Postal address: I, (the employer s authorised signatory) hereby declare the above information to be correct. I accept full responsibility for fees payable to the Law Society of South Africa for the abovementioned learner and course. Employer Signature Date LEAD reserves the right to cancel a learning activity should the number of delegates not justify the costs involved. Registered delegates will be given reasonable notice of cancellation Terms and Conditions of Registration Each LEAD learning activity (seminar, workshop, course etc.) has different terms and conditions of registration. Please refer to the website (www.lssalead.org.za) for more details on the terms and conditions specific to this learning activity or contact LEAD on 012 441 4652. Contact Bettie Lubbe at LEAD E-mail: bettie@lssalead.org.za / Tel +27(0)12 441 4670 LEAD switchboard: Tel +27 (0)12 441 4600 Page 6 of 7
ADVANCED SHORT COURSE IN BUSINESS RESCUE PRACTICE : REGISTRATION FORM (CONTINUED) Name of Applicant: PAYMENT Bank Details for LEAD Bank: First National Bank (FNB) Branch: Pretoria Branch code: 251445 Account Holder: Law Society of South Africa Account Number: 62009641079 Account Ref: (BR surname and initials) faxed to 086 743 1942 Responsible for payment Employer Applicant Payment to be made Full fee Payment plan Student Total Fees Payment Plan Amount payable on registration (initial payment) Practising attorneys and candidate attorneys R5 100 R2 600 R2 500 Other R6 500 R3 800 R2 700 Balance payable before 15 March 2014 Payment by : Electronic Funds Transfer (EFT): Amount: R Payment by : Credit Card Amount: R Master Card Visa Card Expiry Date Card Number Name of card holder 1 st Payment Date: Amount : Signature 2 nd Payment Date: Amount : Signature For security reasons. Credit card payments must be accompanied by photocopies of both sides of the card. NAME : SIGNATURE: DATE: Cancellation 1. A student will qualify for a refund only if he/she cancel his/her attendance in writing before commencement of the course and before receiving material, subject to deduction of a cancellation fee of R500. 2. Should a student discontinue his/her training prior to the end of the course, he/she will be responsible for the full tuition fee. The only exceptions are if the reasons for cancellation are one of the following: a. Death of a close family member (death certificate should be submitted); b. Severe medical condition which results in the student no longer being able to continue with the course (medical certificate should be submitted); 3. All refunds must be claimed in writing not more than 30 business days after cancellation. Failure to claim a refund within 30 business days from cancellation will result in forfeiture of the refund. 4. LSSA / UNISA has the right to terminate a student s participation should the course fee not be paid as required in which case the student will still be liable for payment of the full course fee. 5. Cancellations must be done in writing and submitted either by fax 086 743 1942 or e-mail bettie@lssalead.org.za. General 1. I agree that having registered for the Advanced Short Course in Business Rescue I am liable for the full course fee. 2. I am familiar with the Advanced Short Course in Business Rescue course outcomes, content and fully comprehend the specifics explained in this document. 3. I understand that all assignments and examinations (portfolios) will be done online and that I have access to the e-leader platform via the internet. 4. I acknowledge that the initial payment needs to be made before any material will be mailed to me. 5. I accept that a certificate will be issued only if I comply with the academic and financial requirements. 6. I agree to submit my original own work and will not obtain any external assistance except from the course facilitator. I understand that if I am found not to be complying with this, my participation in the course may be terminated and the matter reported to my statutory provincial law society. 7. I understand that UNISA/LEAD reserves the right to call in any student for an oral examination. 8. I acknowledge that I have read and understood the above, and hereby, sign as proof. I hereby agree to abide by all the terms conditions relating to the Advanced Short Course in Business Rescue Practice Applicant s Signature Date Page 7 of 7