Maart 2013: jaargang 10, nommer 1 - LitNet

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34 Cilliers et al. (2001:488). 35 Loubser (2004:158); Wet 61 van 1973 art. 434(1). 36 1964 3 SA 175 (O). 37 1970 3 SA 511 (T). 38 Wet 71 van 2008 artt. 140, 141. 39 Bradstreet (2012:23); Wet 71 van 2008 artt. 76–7. 40 Wet 71 van 2008 art. 140(1)(a). 41 Wet 71 van 2008 art. 141(1). 42 Wet 71 van 2008 art. 140(1)(d). 43 Wet 71 van 2008 art. 140(3). 44 Wet 71 van 2008 art. 140(1)(a). 45 Wet 71 van 2008 art. 140(1)(b). 46 Wet 71 van 2008 art. 140(1)(c)(i)-(ii). 47 Wet 71 van 2008 art. 137(5). 48 Wet 71 van 2008 art. 141(1). 49 Wet 71 van 2008 art. 141(1). 50 Wet 71 van 2008 art. 140(3)(a). 51 Wet 71 van 2008 art. 141(2)(a). 52 Wet 71 van 2008 art. 141(2)(b). 53 Wet 71 van 2008 art. 141(2)(c). 54 Wet 71 van 2008 art. 141(2)(c)(i). 55 Wet 71 van 2008 art. 141(2)(c)(ii). 56 Wet 71 van 2008 art. 141(2)(c)(ii)(aa). LitNet Akademies Jaargang 10 (1), Maart 2013 75
57 Wet 71 van 2008 art. 141(2)(c)(ii)(bb). 58 Wet 71 van 2008 art. 140(1)(d). Sien ook Davis et al. (2010:242). 59 Kloppers (1999:427); Burdette (2004:438). 60 Wet 71 van 2008 art. 150(1). LitNet Akademies Jaargang 10 (1), Maart 2013 61 Burdette (2004:438) stel dit soos volg: "One of the drawbacks of judicial management is that the judicial manager is required to trade the ailing business out of trouble until all its creditors have been paid, and the business is once again a viable, solvent entity." Kloppers (1999:427) verklaar insgelyks: "The formulation of a reasonably detailed plan of action to lead the company from its financial woes to again being a successful concern is an important part of the recovery of the company. However it is not an express feature of judicial management prescribed by the Companies Act in South Africa." 62 Burdette (2004:438) sê: "By introducing the proposal, acceptance and implementation of a business rescue plan, the reorganisation of a debtor can be brought to finality a lot sooner, with the added advantage that it creates certainty for all the parties involved as to what the outcome of the business rescue will be once a plan has been accepted and implemented." 63 Wet 71 van 2008 art. 136(2). Loubser 2010:690 verklaar: "Although not stipulated in the relevant section, it is obvious that the business rescue practitioner would also have this right in respect of the whole agreement and not just individual provisions." 64 Solomon en Boltar (2009:26–9). 65 Solomon en Boltar (2009:28) stel dit so: "Thus the practitioner can 'cherry pick' between the provisions of such an agreement by deciding which provisions will continue, which will be suspended and which will be cancelled. In addition, the practitioner can 'cherry pick' between the rights and obligations contained in a single provision by deciding which parts of the provision will continue, which will be suspended and which will be cancelled."Sien ook Loubser (2010:690-1). 66 Solomon en Boltar (2009:28); Loubser (2010:690-1). 67 Solomon en Boltar (2009:29) verklaar: "The powers conferred on a practitioner to 'cherry pick' between the provisions in an agreement (and between various parts of a provision) are far more extensive than the powers conferred on a liquidator of a company in liquidation. If the liquidator elects to abide by the contract he/she can claim performance from the other party. However, the liquidator is obliged to perform all of the company's outstanding obligations in terms of that contract. The liquidator is not entitled to claim performance from the other party to the contract without performing or tendering performance of the obligations of the company in liquidation in terms of that contract." 76
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