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The Position of the Post-Commencement Creditor in relation to Business Rescue Proceedings

October 23 | Restructuring

In this podcast organised by Turnaround Management Association Southern Africa, our co-head of Restructuring, Juliette de Hutton, joined University of Pretoria Professor Andre Boraine, Gideon Slabbert from Corporate Business Rescue and Dispute Resolution director, Kylene Weyers, for a conversation on the Wescoal Mining (Pty) Ltd Another v Mkhombo NO and Other case judgement. The judgement found that post-commencement creditors are not creditors – as defined by the Companies Act – and therefore cannot vote on the company’s Business Rescue plan.

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