Exam (elaborations)
100% TRUSTED workings LML4806 Assignment 2 Semester 2 2024
100% TRUSTED workings LML4806 Assignment 2 Semester 2 2024
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Content preview
100%TRUSTED
workings
LML4806
Assignment 2
Semester 2 2024
[Pick the date]
[Type the company name]
tabbymwesh59@gmail.com
, Book
The Law of Business Structures
LML4806 Assignment 2 (COMPLETE ANSWERS) Semester 2 2024 - DUE
August 2024 ; 100% TRUSTED Complete, trusted solutions and explanations.
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)
Barbara's Options to Contest Winelands Packers' Vote
Barbara may well apply to court to set aside Winelands Packers' vote against
the business rescue plan, but success depends on particular factors. Here is a
breakdown:
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 EFT, 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 this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller tabithamwendwa73. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R50,38. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
60434 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now
