Examples of Disputed Creditor in a sentence
The BRPs may, however, in their sole and absolute discretion agree with the Disputed Creditor that the Disputed Claim/s be settled.
Unless the BRPs specifically advise a Disputed Creditor otherwise, Disputed Creditors will still be required to follow the Dispute Mechanism set out in paragraph 15 below.
If any Creditor is in disagreement with the information provided inTable 2 (being a Disputed Creditor), such Disputed Creditor should utilise the Dispute Mechanism set out in paragraph 15.
Should the Disputed Creditor and the BRPs be unable to agree on a Calculation Expert, then the matter may, within three days from the expiry of the aforementioned seven-day period, be referred by the Disputed Creditor to AFSA for the appointment of a Calculation Expert, and which expert shall be a senior counsel with no less than 12 years' experience.
If the Disputed Creditor does not follow the procedure set out in 10.5, then the Disputed Creditor shall be deemed to have abandon its claim/s.
If the Disputed Creditor does not avail itself of the opportunity contemplated in 33.2.1 above, the Disputed Creditor will be deemed to have accepted the BRPs' position in regard to the Disputed Claim.
If the Disputed Creditor or Contingent Creditor, as the case may be, does not notify the BRPs within the time period allowed, or such longer period as the BRPs may in their sole discretion determine, then such Disputed Creditor or Contingent Creditor shall be deemed to have abandoned its claim/s.
Where that Claim is not reflected in Table2, the course of action available to that party is to submit a claim for damages as a Disputed Creditor and to follow the Dispute Mechanism set out in paragraph 15.
The Disputed Creditor will be afforded seven days from the Rejection Date to agree with the BRPs on a Calculation Expert to preside over the dispute, and which expert shall be a senior counsel with no less than 12 years' experience.
Should the Disputed Creditor not make this nomination and / or the BRPs not agree to appoint such nominee as arbitrator within the period allowed, then the BRPs will request the President of the Arbitration Foundation of South Africa (" AFSA") to appoint a retired judge or senior counsel as an arbitrator on behalf of the Disputed Creditor and the BRPs, and this appointment will be binding on the Disputed Creditor.