(2) The practitioner may not unreasonably withhold consent in terms of subsection (1)(c), having regard to-
(a) the purposes of this Part; and

(b) the circumstances of the company; and

(c) the nature of the property, and the rights claimed in respect of it.

(3) If, during a company’s corporate rescue proceedings, the company wishes to dispose of any property over which another person has any security or title interest, the company must –

( a) obtain the prior consent of that other person, unless the proceeds of the disposal would be sufficient to fully discharge the indebtedness protected by that person’s security or title interest; and

(b) promptly –
(i) pay to that other person the sale proceeds attributable to that property up to the amount of the company’s indebtedness to that other person; or

(ii) provide security for the amount of those proceeds, to the reasonable satisfaction of that other person.

• According to the Insolvency Act [Chapter 6:07]. PART XXIII: Corporate Rescue