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Does the suspension of liquidation of Proceedings in terms of section 131(6) [1] Preclude the conduct of a section 417/418 inquiry? – by Colin Strime

This question was dealt with in a recent decision (unreported as yet) of the High Court [3] where the court (per Petersen AJ) gave its interpretation of paragraphs 15 to 17 and 19 of the Maroos Judgment[4].  These paragraphs read as follows: “[15]     Section 131(6) of the Act does not change the status of the… Continue Reading

Business Rescue Practitioner’s Duties Re Reckless Trading, Fraud and Contravention of any Company Law – By Colin Strime

This duty or more aptly stated this obligation on the part of business rescue practitioners was dealt with in a recent matter[1] of Chetali Gupta (the wife of one of the Gupta brothers) in a special motion proceeding brought by her before three judges of the North Gauteng Local Division of the High Court, Pretoria… Continue Reading