Considerations that inform the view of whether there is a reasonable prospect of rescuing a company: a decade of legal precedent

In this contribution we identified a number of considerations by formulating a number of questions with reference to the case law that may assist in answering the question whether there is a reasonable prospect of rescuing a company. They by no means have universal application, and the facts of a matter will determine how it may be motivated that there is a reasonable prospect of rescuing the company. Nevertheless, a considerable body of case law has been built up over the years, which has further concretised the requirement of a reasonable prospect of rescuing a company. Although there are legal uncertainties regarding issues of a general nature pertaining to the requirement, it cannot be said that the requirement is vague or unworkable.