Business Rescue Proceedings definition

Business Rescue Proceedings means the proceedings to facilitate the rehabilitation of the Company, which is Financially Distressed, as provided for in Chapter 6 of the Companies Act;
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Business Rescue Proceedings means the Business Rescue proceedings in respect of the HS Companies, having been commenced with on the commencement dates recorded in 1.16 below;
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Business Rescue Proceedings means the process of facilitating the rehabilitation of a company that is financially distressed by providing for —
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Examples of Business Rescue Proceedings in a sentence

  • Although SHRA is not a creditor, the BRP has allowed SHRA to participate in Business Rescue Proceedings and intend continuing to do so.

  • The BRP will ensure that all labour relations legislation is strictly adhered to during the Business Rescue Proceedings of the Company.

  • Should the Company be liquidated during the period of implementation of this Plan, Creditors will have claims equal to those at the commencement of Business Rescue Proceedings less amounts already paid in terms of this Business Rescue Plan.

  • All taxes incurred before the commencement of Business Rescue Proceedings are dealt with in terms of this Business Rescue Plan.

  • This impasse remained ultimately leading to the current Business Rescue Proceedings commencing.

  • The company commenced Business Rescue Proceedings in terms of section 129 of the Act by passing a resolution stating that it is in financial distress and therefore needed to file for business rescue.

  • Should any requirement, as set out in the Act, not have been adhered to during these Business Rescue Proceedings, same will be deemed to be ratified upon acceptance of the Proposed Business Rescue Plan.

  • At date of commencement of the Business Rescue Proceedings, although solvent, FMHC was trading at a monthly shortfall of+ R1,5 million rand.

  • This section explains the background of the business of the Company and sets out pertinent details prior to the commencement of Business Rescue Proceedings as well as the BRP’s actions since appointment.

  • The BRP shall ensure that all future tax obligations (including the filing of returns and payment of related taxes) will be met until Business Rescue Proceedings have been terminated in accordance with Section 132 of the Act.


More Definitions of Business Rescue Proceedings

Business Rescue Proceedings means the proceedings in terms of Chapter 6 of the Act and as defined in Section 128 (1)(b).
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Business Rescue Proceedings means the process of
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Business Rescue Proceedings means the Business Rescue proceedings commenced by the Borrower on 14 September 2012 pursuant to Chapter 6 of the Companies Act;
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Business Rescue Proceedings means the proceedings set out in Chapter 6 of the Companies Act which commence and terminate in accordance with the provisions of section 132 of the Companies Act;
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Related to Business Rescue Proceedings

  • Informal proceedings means proceedings for probate of a will or appointment of a personal representative conducted by the probate register without notice to interested persons.

  • Formal proceedings means proceedings conducted before a judge with notice to interested persons.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • relevant proceedings means proceedings for contempt of court or proceedings under Schedule 2 to the Anti-social Behaviour, Crime and Policing Act 2014;

  • Litigation means any action, suit or proceeding before any court, mediator, arbitrator or Governmental Authority.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Legal Action means and includes any claim, counterclaim, demand, action, suit, counterclaim, arbitration, inquiry, proceeding or investigation before any