Business Rescue definition

Business Rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed by providing for-
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Business Rescue shall have the meaning ascribed to such term in section 128(1)(b) of the Companies Act;
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Business Rescue means the business rescue proceedings of the Company conducted under Chapter 6 of the Companies Act;
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Examples of Business Rescue in a sentence

  • In this regard, the Vision Parties have a substantial cash deposit available for payment to the Lender Group and, if the Business Rescue Plan is approved, the Vision Parties will finalise the acquisition of the Lender Group’s Claims.

  • The rights of the Shareholder will not be altered as a result of the approval and implementation of this Business Rescue Plan.

  • The future liquidity and solvency of the Company was dependent on the Company restructuring its debt obligations to trade creditors as well as undertaking an operational restructure, which could only be restructured through a formal Business Rescue process under Chapter 6 of the Companies Act.

  • As required in terms of section 150 (2) (c) (iv) of the Companies Act, the projected balance sheet and statement of income and expenditure for the ensuing three years, limited to the potential 1 year forecast time horizon for the implementation of this Business Rescue Plan, prepared on the assumptions that this Business Rescue Plan is adopted.

  • According to Section 150(2)(b)(iv), this Business Rescue Plan must deal with the property of the Company that is to be available to pay Claims in terms of this Business Rescue Plan.


More Definitions of Business Rescue

Business Rescue means proceedings under Chapter 6 of the Companies Act to facilitate the rehabilitation of a company which is Financially Distressed, as more fully defined in section 128(1)(b) of the Companies Act;
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Business Rescue means proceedings to facilitate the rehabilitation of a company or close corporation that is financially distressed, as contemplated in the Companies Act, 71 of 2008, as amended;
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Business Rescue means proceedings to facilitate the rehabilitation of the Company, which is financially distressed, as more fully defined in section 128(1)(b) of the Companies Act and paragraph12 herein;
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Business Rescue shall have the meaning as defined in terms of section 128(1)(b) of the Companies Xxx 0000.
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Business Rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed1 by providing for the temporary supervision of the company
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Business Rescue means Business Rescue proceedings as set out in Chapter 6 of the Companies Act 71 of 2008.
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Business Rescue means proceeding to facilitate the rehabilitation of a company that is financially distressed by providing for –
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