The word 'liquidation' tends to trigger panic. Directors fear personal liability. Employees fear losing their jobs and their money. Creditors fear they will never see a cent. And yet, for most people involved in a liquidated company, the biggest ...
Pre-commencement creditors vs post-commencement creditors
In the case of Mashwayi Projects (Pty) Ltd (the Appellants) // Wescoal Mining (Pty) Ltd) (the Respondents) 2 All SA 57 (SCA), the Supreme Court of Appeal (“SCA”) decided whether post-commencement creditors may vote on business rescue proceedings ...