Neelam Rahim | neelam@radioislam.co.za
3-minute read | 06 November 2025 | 14:00 CAT
📸 Once seen as a technical profession, business rescue has become one of South Africa’s most dangerous jobs, as corruption and organised crime put practitioners’ lives at risk.
Once regarded as a technical and administrative profession, being a business rescue practitioner or insolvency lawyer in South Africa has now become one of the most dangerous careers in the country. This is according to Gareth Cremen, Partner at Cox Yeats Attorneys, who warns that the rise in corruption, organised crime, and asset recovery disputes has made the field increasingly perilous.
Cremen explains that business rescue practitioners are appointed to take temporary control of financially distressed companies. Their duty is to investigate the affairs of the company, develop a viable business rescue plan, and ensure that creditors receive returns without resorting to immediate liquidation. “A business rescue practitioner operates under Chapter 6 of the Companies Act and has limited powers. Their role is to stabilize and revive a struggling entity,” he says.
In contrast, liquidators are appointed when business rescue fails. They take possession of a company’s assets, sell them, and distribute the proceeds to creditors under the supervision of the Master of the Court. Insolvency lawyers, meanwhile, advise these professionals, prepare court applications, and assist with forensic recoveries and post-commencement finance negotiations.
However, this line of work has increasingly become linked to intimidation, threats, and even killings. “We are witnessing an uptick in targeted violence against professionals involved in anti-corruption, asset recovery, and high-stakes insolvency matters,” Cremen reveals. Citing data from the Global Initiative Against Transnational Organised Crime, he notes that 131 targeted killings were recorded in 2023 across political and organised crime sectors – a sign of the dangerous environment in which practitioners operate.
“These attacks often occur under the guise of business appointments or legal disputes,” he adds. “Fifteen years ago, this level of aggression was unheard of, but now it’s alarmingly common.”
Cremen further clarifies that accusations suggesting practitioners deliberately prolong liquidations for personal gain are largely unfounded. “The real issue is the lack of cooperation from company directors and offenders who withhold information,” he says. “Tracing assets, investigating transactions, and conducting inquiries are time-consuming and resource-intensive processes.”
The growing risk has forced professionals to invest heavily in security measures, driving up the costs associated with business rescue and liquidation. “These costs ultimately fall on the estate, but at this point, they’ve become a necessary safeguard,” he notes.
To address the escalating danger, Cremen calls for urgent systemic reform. “South Africa has solid witness protection laws, but the implementation is weak. We need better funding, faster prosecution of economic crimes, and protection for those investigating them,” he urges.
He warns that known perpetrators often evade justice due to delays and repeated bail grants. “We must fast-track prosecutions, impose harsher penalties, and freeze the assets of crime funders. Unless we fix these cracks in our justice system, professionals exposing corruption will remain at risk,” Cremen concludes.
Listen to the full interview on Sabahul Muslim with Moulana Sulaimaan Ravat and Gareth Cremen.
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