n South African Law Journal - Business rescue proves to be creditor-friendly : C J Claassen J's analysis of the new business rescue procedure in Oakdene Square Properties : notes
|Article Title||Business rescue proves to be creditor-friendly : C J Claassen J's analysis of the new business rescue procedure in Oakdene Square Properties : notes|
|© Publisher:||Juta Law Publishing|
|Journal||South African Law Journal|
|Affiliations||1 University of Cape Town|
|Publication Date||Jan 2013|
|Pages||44 - 52|
Amongst the recent spate of emerging case law on the business rescue provisions in Chapter 6 of the Companies Act 71 of 2008 ('the Act') comes the decision of Oakdene Square Properties (Pty) Ltd & others v Farm Bothasfontein (Kyalami) (Pty) Ltd & others 2012 (3) SA 273 (GSJ) ('Oakdene Square Properties'), which is of particular relevance to creditors who may have been concerned about a loss of protection under the new dispensation. Whereas judicial management and liquidation have in the past been implemented disproportionately in the favour of creditors - not least for the reason that the former often led to the latter as a matter of course - the new procedure seeks to protect a wider range of interests in the business rescue process.
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