n Without Prejudice - Beware the perceived blanket moratorium : company law

Volume 15, Issue 6
  • ISSN : 1681-178X



Business rescue, in s128(1)(b) of the Companies Act (71 of 2008), is defined as . In terms of s128(1)(b)(ii), one of the ways this is achieved is to provide the financially distressed company with time to pay its creditors by placing a moratorium on the rights of the creditors to enforce their claims. The moratorium provides for a period of respite to enable the company to restructure its affairs and adopt a plan to pay its creditors.

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