100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 1 review Course Company Law (LML4806) Institution University Of South Africa (Unisa) Book The Law of Business Structures$2.57
Add to cart
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 1 review Course Company Law (LML4806) Institution University Of South Africa (Unisa) Book The Law of Business Structures
34 views 1 purchase
Course
Company Law
Institution
University Of South Africa
Book
The Law of Business Structures
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024
1 review
Course
Company Law (LML4806)
Institution
University Of South Africa (Unisa)
Book
The Law of Business Structures
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
LML4806 Assignment 1 (COMPLETE ANSWERS) Semester 2 2024 (818236) - DUE 25 August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
All for this textbook (29)
Written for
University of South Africa
Company Law
All documents for this subject (25)
Seller
Follow
Jennifer2024
Reviews received
Content preview
LML4806
Assignment 2
(COMPLETE
ANSWERS) Semester
2 2024 - DUE August
2024
ADMIN
[COMPANY NAME]
, Question: 1 Barbara is a business rescue practitioner of Thirsty
Elephants (Pty) Ltd, a company that is under business rescue. She
convenes a meeting of the creditors of Thirsty Elephants (Pty) Ltd to
discuss and vote on the business rescue plan. The business rescue
plan contains ample provisions that protect the interests of the
secured creditors of Thirsty Elephants (Pty) Ltd. Winelands Packers
(Pty) Ltd, a secured creditor of Thirsty Elephants (Pty) Ltd holding
27% of the creditors’ voting interests that are voted at the meeting,
votes against the adoption of the business rescue plan. All the other
secured and unsecured creditors in attendance at the meeting vote
for the adoption of the business rescue plan as the plan presents
certain advantages to them. Barbara is concerned that Winelands
Packers (Pty) Ltd’s vote against the adoption of the 4 business
rescue plan is detrimental to the successful rescue of Thirsty
Elephants (Pty) Ltd, the interests of its employees and the interests
of the other affected creditors. With reference to the Companies Act
71 of 2008 and the relevant case law, advise Barbara on whether she
may successfully apply to a court to set aside the vote of Winelands
Packers (Pty) Ltd. In your advice, you should discuss the grounds on
which such an application may be made, the factors that the court
should take into account when considering such an application and
the effect of a court setting aside Winelands Packers (Pty) Ltd’s
vote. (10)
Under the Companies Act 71 of 2008, specifically section 153, a
business rescue practitioner or any affected person may apply to
court to set aside the vote of any person at a meeting convened to
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Jennifer2024. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.57. You're not tied to anything after your purchase.
