Business Rescue Proceedings definition

Business Rescue Proceedings means the proceedings to facilitate the rehabilitation of the Company, which is Financially Distressed, as provided for in Chapter 6 of the Companies Act;
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Business Rescue Proceedings means the Business Rescue proceedings in respect of the HS Companies, having been commenced with on the commencement dates recorded in 1.16 below;
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Business Rescue Proceedings means the Business Rescue proceedings commenced by the Borrower on 14 September 2012 pursuant to Chapter 6 of the Companies Act;
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Examples of Business Rescue Proceedings in a sentence

  • This chapter sets out certain administrative and general matters pertaining to the Business Rescue Proceedings and the Business Rescue Plan.

  • While the table below is an estimate and is not binding on the BRPs, the table provides an estimate of the total anticipated aggregate cents in the Rand Distributions payable per Creditor class during the Business Rescue Proceedings.

  • The table below sets out the BRPs’ current anticipated cash inflows and outflows from the respective phases of the Business Rescue Proceedings.

  • The BRPs have been constrained in their deliberations by the reality of the circumstances facing the Company, including, amongst other things, the high level of indebtedness, security arrangements entered into between the Lenders and the Company prior to the Business Rescue Proceedings, the fact that the liabilities of the Company materially exceed the value of the assets of the Company, and the significantly loss-making position of the core construction business.

  • The CoR123.1 Notice of Beginning of Business Rescue Proceedings was duly filed with the CIPC on 14 June 2023 (see Annexure “A1”).

  • While the table below is no more than a guide and is not binding on the BRPs, the table provides an estimate of the anticipated aggregate cents in the Rand Distributions payable per Creditor class during the full Business Rescue Proceedings (including both Implementation Phase 1 and Implementation Phase 2).

  • The claim must be for the amount owing at the date of which Business Rescue Proceedings commenced.

  • In order to maintain the solvency of the Company whilst under its Business Rescue Proceedings, the BRPs continually monitor cash flow and financial projections, perform daily bank reconciliations, control payments and enforce general controls.

  • The subordination resolutionand letter of support are attached hereto as Annexure “H” SubstantialImplementation dateThe date that the BRPs will file a notice of substantial implementation withCIPC in terms of Section 152(8) of the Act and at which point the Business Rescue Proceedings will end in terms of Section 132(2)(c)(ii) of the Act.

  • The BRP has been constrained in his deliberations by the reality of the circumstances facing the Company, including, amongst other things, the high level of indebtedness, security arrangements entered into between the Lenders and the Company prior to the Business Rescue Proceedings, and the significantly loss-making position of the core business.


More Definitions of Business Rescue Proceedings

Business Rescue Proceedings means the process of facilitating the rehabilitation of a company that is financially distressed by providing for —
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Business Rescue Proceedings means the process of
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Business Rescue Proceedings means the proceedings in terms of Chapter 6 of the Act and as defined in Section 128 (1)(b).
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Business Rescue Proceedings means the proceedings set out in Chapter 6 of the Companies Act which commence and terminate in accordance with the provisions of section 132 of the Companies Act;
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Related to Business Rescue Proceedings

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;

  • Informal proceedings means proceedings for probate of a will or appointment of a personal representative conducted by the probate register without notice to interested persons.

  • Proceedings means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration.

  • Formal proceedings means proceedings conducted before a judge with notice to interested persons.

  • criminal proceedings means criminal proceedings in relation to which the strict rules of evidence apply;

  • Legal Proceedings means any actions, suits, investigations, proceedings, judgments, rulings or orders by or before any Authorized Authority;

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Environmental Proceedings means any judicial or administrative proceedings arising from or in any way associated with any Environmental Requirement.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.

  • relevant proceedings means proceedings for contempt of court or proceedings under Schedule 2 to the Anti-social Behaviour, Crime and Policing Act 2014;

  • Bond proceedings means, collectively, this Resolution, the Certificate of Award, the Continuing Disclosure Agreement, the Registrar Agreement, the Purchase Agreement, and such other proceedings of the Board, including the Bonds, that provide collectively for, among other things, the rights of holders and beneficial owners of the Bonds.

  • civil proceedings means any proceedings in or before any court or tribunal that are not criminal proceedings;

  • Disciplinary proceeding means an adjudicative proceeding permitted under this

  • Adjudicative proceeding means the procedure to be followed in contested cases, as set forth in RSA 541-A:31 through RSA 541-A:36.

  • Insolvency Proceedings means, with respect to any Person, any case or proceeding with respect to such Person under U.S. federal bankruptcy laws or any other state, federal or foreign bankruptcy, insolvency, reorganization, liquidation, receivership or other similar laws, or the appointment, whether at common law, in equity or otherwise, of any trustee, custodian, receiver, liquidator or the like for all or any material portion of the property of such Person.

  • Litigation means any lawsuit, action, arbitration, administrative or other proceeding, criminal prosecution or governmental investigation or inquiry.

  • Protective proceeding means a judicial proceeding in which a protective order is sought or has been issued.

  • Regulatory Proceeding means a request for information, civil investigative demand, or civil proceeding commenced by service of a complaint or similar proceeding brought by or on behalf of the Federal Trade Commission, Federal Communications Commission, or any federal, state, local or foreign governmental entity in such entity’s regulatory or official capacity in connection with such proceeding.

  • Bankruptcy Cases has the meaning set forth in the Recitals.

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Current Proceeding means any proceeding conducted under any provisions of this subsection that

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Legal Action means and includes any claim, counterclaim, demand, action, suit, counterclaim, arbitration, inquiry, proceeding or investigation before any

  • Bankruptcy Case has the meaning assigned to such term in Section 2.05(b).

  • dispute resolution proceeding ’ means any process in which an alternative means of dispute resolution is used to resolve an issue in controversy in which a neutral is appointed and specified parties participate;