n Without Prejudice - Better returns for creditors - business rescue : company law
|Article Title||Better returns for creditors - business rescue : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Author||Yaniv Kleitman and Courtney Masters|
|Publication Date||Aug 2013|
|Pages||34 - 36|
Three material conceptual issues that have emerged to date in the case law under the Companies Act, 2008 are:
- The legal implications and effects of the deregistration and re-registration of companies and close corporations.
- 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
- 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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