Lexis Nexis
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In Van Zyl v Auto Commodities (Pty) Ltd [2021] 3 All SA 395 (SCA), Section 154(2) of the Companies Act only precludes creditors from pursuing claims against the company after the business rescue plan has been implemented. It does not affect or extinguish the liability of a surety for the debt. -
South Africa has adopted many of the international core rescue principles applicable in foreign jurisdictions, creating a modern business rescue regime aimed at saving financially distressed companies, preserving employment and restructuring the discharge of debt. -
Cutting edge issues for South African boards of directors facing financial distress in 2019 -
Has BR in SA really brought about a company (debtor) friendly system that can compare with international best practice?