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LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024• • • • • • Course• Company Law - LML4806 (LML4806)• Institution• University Of South Africa• Book• Company Law$2.50
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LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024• • • • • • Course• Company Law - LML4806 (LML4806)• Institution• University Of South Africa• Book• Company Law
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024• • • • • • Course• Company Law - LML4806 (LML4806)• Institution• University Of South Africa• Book• Company Law
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LML4806
Assignment 2
(COMPLETE
ANSWERS)
Semester 2 2024•
• • • • • Course•
Company Law -
LML4806
(LML4806)•
Institution•
University Of
South Africa•
Book• Company
tabbymwesh59@gmail.com
[Pick the date]
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
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