Articles

Termination and duration of business rescue proceedings

Once a business rescue plan has been approved and adopted and the business rescue practitioner has been appointed, the question arises as to how long a company should be allowed to remain under business rescue. ...

Administration costs of and claims against a company in liquidation post business rescue

Section 135(4) of the Act sets the scene and provides that “[i]f business rescue proceedings are superseded by a liquidation order, the preference conferred in terms of this section will remain in force, except to the extent of any claims arising out of the costs of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”. ...

Liquidators and the voetstoots principle

A voetstoets clause in a sale agreement effectively declares to the purchaser of goods that the goods are to be sold "as is" and without any undertaking of quality. ...

Liability of a surety

The implementation of Chapter 6 of the Companies Act (71 of 2008) has been challenging to say the least. ...

South African courts – the continuing trend in business rescue judgments

In a previous article, I commented on the trend in South African courts that the judges are saying that there must be a detailed, proposed business rescue plan before any application for business rescue will be granted....

Ranking of administration costs of and claims against a company in liquidation post business rescue

It is inevitable that a significant number of business rescue proceedings will fail and that the company under business rescue will be placed in liquidation. ...