Monday, April 15, 2013

Can a Company file for business rescue after a final liquidation order had been granted?


Cardinet (Proprietary) Limited v Wedgewood Golf and Country Esttate (Pty) Ltd (in liquidations) and others (unreported case No 19599/2012 Western Cape High Court)

This judgment confirmed that a business rescue order may be issued after a final liquidation order. In this case, the final liquidation order was issued on 9 February 2012 and a business rescue order was issued on 30 January 2013. The liquidators raised no objections because the company had guaranteed payment of their fees and expenses.

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