Business Rescue means proceedings to facilitate the rehabilitation of a company that is financially distressed by providing for-

Business Rescue shall have the meaning ascribed to such term in section 128(1)(b) of the Companies Act;

Examples of Business Rescue in a sentence

This section covers the duties and obligations of the Consulting Engineer in the provision of the Employer’s Agent and site supervisory staff for the administration, construction monitoring and measurement of the Works carried out by the Contractor appointed by the Client during the original Works Contract duration, extended duration and including prolonged site stoppages not under the control of the Client (i.e., Business Rescue or Community unrest).

More Definitions of Business Rescue

Business Rescue means proceedings under Chapter 6 of the Companies Act to facilitate the rehabilitation of a company which is Financially Distressed, as more fully defined in section 128(1)(b) of the Companies Act;

Business Rescue means: 1.1.8.1. where the company passes a resolution that the company voluntarily begins business rescue proceedings and places the company under supervision in terms of section 129(1) of the Companies Act 71 of 2008 or; 1.1.8.2. where an individual applies to court for an order placing the company under supervision and commences business rescue proceedings in terms of section 131 (1) of the Companies Act 71 of 2008;

Business Rescue means proceedings to facilitate the rehabilitation of a company or close corporation that is financially distressed, as contemplated in the Companies Act, 71 of 2008, as amended;

Business Rescue means proceedings to facilitate the rehabilitation of the Company, which is financially distressed, as more fully defined in section 128(1)(b) of the Companies Act and paragraph12 herein;

Business Rescue means proceeding to facilitate the rehabilitation of a company that is financially distressed by providing for –