SUB-PART D – DEVELOPMENT AND APPROVAL OF CORPORATE RESCUE PLAN (1) The corporate rescue practitioner, after consulting the creditors. other affected persons, and the management of the company, must prepare a corporate rescue plan for consideration and possible adoption at a meeting held in terms of section 143. (2) The corporate rescue plan must contain all […]

(1) A committee of creditors, appointed in terms of section 140 – (a) may consult with the corporate rescue practitioner about any matter relating to the corporate rescue proceedings, but may not direct or instruct the practitioner; and (b) may. on behalf of the general body of creditors receive and consider reports relating to the […]

(l) Within 15 business days after being appointed, the Master must convene, and preside over, a first meeting of creditors, at which – (a) the Master – (i) must inform the creditors whether he believes that there is a reasonable prospect of rescuing the company; and (ii) may receive proof of claims by creditors: and […]

During a company’s corporate rescue proceedings, each holder of any issued security of the company is entitled to – (a) notice of each Court proceeding, decision, meeting or other relevant event concerning the corporate rescue proceedings: and (b) participate in any Court proceedings arising during the corporate rescue proceedings; and (c) formally participate in a […]