n Without Prejudice - Better returns for creditors - business rescue : company law

Volume 13, Issue 7
  • ISSN : 1681-178X



Three material conceptual issues that have emerged to date in the case law under the Companies Act, 2008 are:

  1. The legal implications and effects of the deregistration and re-registration of companies and close corporations.
  2. The question of whether an inability to pay debts is still a stand-alone ground for the winding up of companies and close corporations by a court; and
  3. Whether there is a so-called "alternative" or "secondary" object of business rescue under Chapter 6, namely a better return for creditors and shareholders (even if the company cannot be rescued).

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