Ethical Standards and Responsibilities of Business Rescue Practitioners: A Literary Analysis of the Danco Case – 2023

Abstract

This study analyses the Danco case (2023) and its implications for terminating business rescue proceedings in South Africa. It examines the case's impact on ethical standards and responsibilities, focusing on proper termination procedures and the role of business rescue practitioners. Supported by a comprehensive review of case law and academic literature, the paper explores the consequences of non-compliance with termination procedures, stakeholder communication, and the benefits of adopting best practices. The study offers recommendations for future practice and research, including practitioner education, development of guidelines, and comparative studies. This paper contributes to understanding the business rescue process and its potential for success in South Africa.

Keywords: business rescue, termination procedures, ethical standards, business rescue practitioners, Danco case (2023), s 132(2)(c)(ii), South African context, stakeholder interests, disclosure, transparency, best practices, case law, academic literature

JEL Classification: K23, K42