The number of bankruptcies has risen in recent years. Bankruptcies have to be the last opportunity for a company. Therefore I want to look at what other options a company has when its economy starts to fall. Reconstruction is no new invention. 1st of April 2011 entered Act no. 718 of 06/25/2010 through. This Act sets the framework for a new reconstructive therapy. This is what this project is about. The project is divided into three parts which starts in Chapter 2. Part one of the project begins with a brief explanation on the context of this legislative change, including a history of the Bankruptcy Act before the change and a summary of the change. In relation to creditor the project will explain the role and responsibility of the reconstructor and the ac-countants trust person. The changes for creditor will be analyzed as well as the effects. The reconstruction as it is today extrajudicial will be reviewed with an example of a reconstruction in the bank. Part two of the project deals with the law in practical terms for the creditor, including the guarantee that the bank can be exposed to provide. Subsequently the creditor’s basic credit rating will be analyzed, along with the opportunities which the creditor has regarding valuable security. The last part of the project is found in Chapter 4 and includes a discussion of whether the legislative change has met the practical’ criticism of the former Bankruptcy Act, and the inconvenience that the legislative proposal represents for some creditors. Also the criticism that has come about the legislative proposal will be discussed in this part of the project. The conclusion of the project is found in Chapter 5.
|Educations||Graduate Diploma in Financial Planning, (Diploma Programme) Final Thesis|
|Number of pages||96|