Innocentia Moele

In the recent case of Mashwayi Projects (Pty) Ltd and Others v Wescoal (Pty) Ltd and Others, an important debate on the interpretation of section 152(2) of the Companies Act and the right of post-commencement creditors to vote on a business rescue plan was decided. The debate stemmed from a High Court judgement which held that only pre-commencement creditors were entitled to vote on a business rescue plan.

16/08/2024 Business rescue regime in South African law, was established in the Companies Act of 2008 to prevent the liquidation of financially distressed companies and to facilitate their restructuring and revival. Business rescue is not just a legal process, but a lifeline... Read more

Business rescue regime in South African law, was established in the Companies Act of 2008 to prevent the liquidation of financially distressed companies and to facilitate their restructuring and revival. Business rescue is not just a legal process, but a lifeline for struggling businesses.