1887

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 : notes

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Abstract

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 2012 (3) SA 273 (GSJ) (''), 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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/content/ju_salj/130/1/EJC130594
2013-01-01
2016-12-06
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