Standing of Matter
Archived
Board of directors passes resolution for Business Rescue on
File notice of resolution with CIPC on
Publish notice to affected parties-within 5 days from filing
Company nominates a BRP within 5 days of filing
CIPC confirms the appointment of BRP
File notice to CIPC on BRP appointment within 2 days
Publish notice to affected parties of BRP wihin 5 days
First meeting of creditors-10 days from appointment
First meeting of employees-10 days from appointment
Publish Business Plan within 25 days of appointment of BRP on
Notice of meeting to determine Business Plan
Meeting to determine Business Plan 10 days after publication
Termination Date
Progress Report (Status)
Jan 2013-the adopted business rescue plan provides for the business rescue practitioner to seek the disposal of the company's only asset at an amount equal or in excess of the valuation previously obtained. The business rescue practitioner continues to market this property. Feb 2013-the business rescue practitioner has contained and accepted an offer to acquire the assets of the company. Transferring attorneys have been instructed to attend to the transfer of the property.
Documents
Admin Person