LML4806 Assignment
2 (COMPLETE
QUESTIONS AND
ANSWERS) Semester 2
2024 - DUE August
2024
,LML4806 Assignment 2 (COMPLETE ANSWERS) Semester
2 2024 - DUE August 2024
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
For assistance with assignments whatsapp +254702715801
, 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
For assistance with assignments whatsapp +254702715801
2 (COMPLETE
QUESTIONS AND
ANSWERS) Semester 2
2024 - DUE August
2024
,LML4806 Assignment 2 (COMPLETE ANSWERS) Semester
2 2024 - DUE August 2024
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
For assistance with assignments whatsapp +254702715801
, 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
For assistance with assignments whatsapp +254702715801
