LML4806
Company Law
Assignment 2
Semester 1 2024
,Table of Contents
1.1 Explain what business rescue is and indicate the circumstances in which
business rescue proceedings may be used...................................................................... 3
1.2 Advise Jane and Steven how business rescue proceedings may be commenced
and indicate whether Jane and Steven, in their capacity as employees, would have
any means of ensuring that the business rescue proceedings are commenced. .......... 4
2. With reference to the relevant statutory provisions, advise the board of Springboard
(Pty) Ltd on whether and how (if at all) the shareholders opposed to the merger would
be able to prevent the merger from taking place. ............................................................. 5
Court's Decision Criteria ................................................................................................. 7
Recommendations for the Board ................................................................................... 7
BIBLIOGRAPHY .................................................................................................................. 8
, 1.1 Explain what business rescue is and indicate the circumstances in which
business rescue proceedings may be used.
Business rescue is a legal process provided for in the Companies Act 71 of 2008 of
South Africa. It is defined under Section 128(1)(b) as a procedure to facilitate the
rehabilitation of a company that is financially distressed by providing for the temporary
supervision of the company and the management of its affairs, business, and property
by a business rescue practitioner.1…
1
Companies Act 71 of 2008. Sec 128(1)(b).
Company Law
Assignment 2
Semester 1 2024
,Table of Contents
1.1 Explain what business rescue is and indicate the circumstances in which
business rescue proceedings may be used...................................................................... 3
1.2 Advise Jane and Steven how business rescue proceedings may be commenced
and indicate whether Jane and Steven, in their capacity as employees, would have
any means of ensuring that the business rescue proceedings are commenced. .......... 4
2. With reference to the relevant statutory provisions, advise the board of Springboard
(Pty) Ltd on whether and how (if at all) the shareholders opposed to the merger would
be able to prevent the merger from taking place. ............................................................. 5
Court's Decision Criteria ................................................................................................. 7
Recommendations for the Board ................................................................................... 7
BIBLIOGRAPHY .................................................................................................................. 8
, 1.1 Explain what business rescue is and indicate the circumstances in which
business rescue proceedings may be used.
Business rescue is a legal process provided for in the Companies Act 71 of 2008 of
South Africa. It is defined under Section 128(1)(b) as a procedure to facilitate the
rehabilitation of a company that is financially distressed by providing for the temporary
supervision of the company and the management of its affairs, business, and property
by a business rescue practitioner.1…
1
Companies Act 71 of 2008. Sec 128(1)(b).
