n Without Prejudice - Just how super is a "super preferent" claim? : company law
|Article Title||Just how super is a "super preferent" claim? : company law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Affiliations||1 Smit Sewgoolam|
|Publication Date||Jun 2016|
|Pages||42 - 43|
Section 135(3) of the Companies Act, 2008 deals with, amongst others, a business rescue practitioner's (BRP) claims for remuneration and expenses. More specifically, it stipulates the preference that such claims will enjoy over other claims in business rescue proceedings. In turn, s135(4) stipulates that "[i]f business rescue proceedings are superseded by a liquidation order, the preference conferred in terms of this section will remain in force, except to the extent of any claims arising out of the costs of liquidation".
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