Insolvency and business rescue
What others say
"To make the business rescue provisions in Chapter 6 work, legal convergence and uniformity is required between the debtor-friendly Chapter 6 of the Companies Bill and creditor-friendly insolvency legislation".
Turnaround Management Association of South Africa
(Chairperson: Keith Braatvedt of Eversheds)
“Serveco was deregistered on 25 April 2008. The deregistration was effected by an official in the Companies and Intellectual Property Registration Office (CIPRO), purporting to act in terms of s73 of the Companies Act and on behalf of the Registrar of Companies. Deregistration was incompetent inasmuch as Serveco had been wound up on 23 May 2006 - a fact which was pointed out to the official in a letter before Serveco was deregistered - and the consequence of a winding-up is not deregistration, but a dissolution in terms of s419 of the Companies Act… (Paragraph [11] at 395A – B)”
Miller and Others V Nafcoc Investment Holding Co Ltd And Others 2010 (6) Sa 390 (SCA)
