n Without Prejudice - The business rescue moratorium : company law
|Article Title||The business rescue moratorium : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Norton Rose Fulbright|
|Publication Date||Mar 2016|
Arbitration proceedings constitute "legal proceedings"for purposes of s133(1) of the Companies Act and are covered by the business rescue moratorium. The moratorium only suspends the time limits for a creditor's right to commence proceedings or otherwise assert a claim against the company during the moratorium and is not an absolute bar. The Supreme Court of Appeal provided this clarity in Chettyt/a Nationwide Electrical v Hart and Another NNO 2015(6) SA 424 (SCA) (Chetty v Hart).
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