- Flynote
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Business rescue – s 133 of the Companies Act 71 of 2008 (the Act) – moratorium on legal proceedings against company in business rescue – sale of company’s assets – deposit provisionally paid pending conclusion of sale agreements – sale not concluded – deposit not property belonging to company or lawfully in its possession – recovery of deposit not precluded by s 133. Section 145(1)(a) of the Act – notice of court proceedings to creditors concerning business rescue proceedings – a general notification requirement – duty to notify
creditors rests on business rescue practitioner.
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Cited documents 9
Judgment 7
Legislation 2
1. | Companies Act, 2008 | 1907 citations |
2. | Financial Institutions (Protection of Funds) Act, 2001 | 80 citations |
Documents citing this one 1
Judgment 1
1. | Karsten and Another v Road Accident Fund and Others (1962/2012) [2024] ZANCHC 33 (22 March 2024) |