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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
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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
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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.
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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
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