The job becoming one of the most dangerous professions in South Africa
Being a business rescue practitioner or insolvency lawyer in South Africa has become one of the country’s most dangerous professions.
This is according to Gareth Cremen, Partner at Cox Yeats Attorneys. What was once viewed as a highly technical and administrative role has now become a career fraught with threats, intimidation, and even violence.
Cremen said that while the work of these professionals is to help resuscitate struggling companies, they often face immense personal risk in the process.
“People see us as professionals who step into failing entities, but what is not widely appreciated is the level of risk involved—not economic risk, but personal risk,” he explained.
“In South Africa, we’ve seen an increasing amount of threats, intimidation, and even assassinations targeting business rescue practitioners and insolvency lawyers.”
Over the past few years, several high-profile cases have made headlines, including the killings of lawyers and practitioners involved in sensitive corporate collapses.
Cremen noted that between 2022 and 2023, at least 13 assassinations targeting lawyers and insolvency professionals were reported.
“We even saw the case of Bouwer van Niekerk, a well-known lawyer, who was shot in his own boardroom by men posing as clients. This shows just how dangerous the work has become,” he added.
The risk, Cremen explained, stems from the nature of the information that business rescue practitioners and liquidators handle.
“These professionals often uncover sensitive financial data, corruption, or fraud. They are legally obligated to investigate and report irregularities to the authorities—and that’s what exposes them,” he said.
Due to this exposure, many practitioners are being compelled to take extreme precautions.
“We’re seeing liquidators and business rescue practitioners having to increase security around themselves and their families when handling high-risk matters,” said Cremen.
Cremen stressed that the threats are not limited to lawyers. “Judges, public prosecutors, and even whistleblowers face the same dangers,” he said.
“We’ve seen what happens to those who expose corruption—many have paid the ultimate price.”
Judicial and criminal justice systems need urgent reform
He believes South Africa’s authorities have not done enough to protect professionals in these critical roles.
“Often, when someone reports that they’ve been threatened, the authorities already know who these people are and the circles they move in,” he said.
“However, I’m not certain we have adequate resources to deal with these problems. We need to start tackling the elephant in the room.”
The growing risk has also raised concerns about the future of the profession itself. Cremen warned that fear could drive skilled practitioners away.
“This might raise a question around whether it’s worth it. However, someone still has to perform these roles—to wind up insolvent companies and to hold directors accountable for fraud or corruption.”
“If we start scaring people out of the industry, we risk losing a vital layer of accountability in the economy.”
He added that watering down investigations or avoiding reports out of fear would be disastrous. “We cannot afford that. The industry needs to stand together and find a collective solution to this problem.”
Cremen believes that the country’s judicial and criminal justice systems need urgent reform to restore confidence and ensure protection for those enforcing corporate accountability.
“The entire system needs to be relooked at. We arrest the same perpetrators over and over again, often out on bail of just R2,000, only to reoffend,” he said.
“We need to clamp down—tougher bail conditions, stronger prosecutions, and more decisive action against criminal syndicates.”
As the threats mount, Cremen has called for greater appreciation and respect for the professionals who keep corporate South Africa honest.
He added that these professionals play a critical role in our economy, helping to uncover corruption, protect creditors, and revive failing companies. However, they shouldn’t have to risk their lives to do so.
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