The balancing of creditor interests in business rescue provisions of the Companies Act 2008

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dc.contributor.advisorDavis, Dennisen_ZA
dc.contributor.authorBuba, Zolani Pen_ZA
dc.date.accessioned2018-01-23T07:57:57Z
dc.date.available2018-01-23T07:57:57Z
dc.date.issued2017en_ZA
dc.description.abstractThe integrated global economy has presented challenges as well as opportunities for companies and their surrounding communities. This has resulted in many jurisdictions having to re-evaluate the question of company failure and how best to deal with it. The South African context has seen the enactment of a new Companies Act, ushering in a rescue regime which evidences a significant departure from its predecessor; judicial management. Contained within Chapter 6 of the Companies Act of 2008, business rescue adopts a fresh approach to company resuscitation. With relatively easy access to the procedure, business rescue caters for the restructure of the business, debt or its equity to ensure either a return to solvency or a better return to creditors than in liquidation. The new regime is further underpinned by the 2008 Act purpose provision, which envisages an efficient business rescue procedure and further mandates that the resolution of financial distress be conducted in a manner that balances the rights and interests of all relevant stakeholders. It is in this light, that this study explores the interplay between section 7(k) and Chapter 6 of the new Act. Specifically, the work sets out to critique the manner in which our new business rescue regime balances competing stakeholder interests in its provisions and investigates whether current provisions provide an adequate framework for this to be done in a manner that enhances the regime's ability to return a financially distressed company to a position of solvency, as a primary objective. After discussing the previous judicial management regime and exploring the mechanics of Chapter 6, a comparative study of similar procedures in the United Kingdom and the United States is undertaken. The study further identifies a number of weaknesses and makes recommendation for improvement.en_ZA
dc.identifier.apacitationBuba, Z. P. (2017). <i>The balancing of creditor interests in business rescue provisions of the Companies Act 2008</i>. (Thesis). University of Cape Town ,Faculty of Law ,Department of Commercial Law. Retrieved from http://hdl.handle.net/11427/26884en_ZA
dc.identifier.chicagocitationBuba, Zolani P. <i>"The balancing of creditor interests in business rescue provisions of the Companies Act 2008."</i> Thesis., University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2017. http://hdl.handle.net/11427/26884en_ZA
dc.identifier.citationBuba, Z. 2017. The balancing of creditor interests in business rescue provisions of the Companies Act 2008. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Buba, Zolani P AB - The integrated global economy has presented challenges as well as opportunities for companies and their surrounding communities. This has resulted in many jurisdictions having to re-evaluate the question of company failure and how best to deal with it. The South African context has seen the enactment of a new Companies Act, ushering in a rescue regime which evidences a significant departure from its predecessor; judicial management. Contained within Chapter 6 of the Companies Act of 2008, business rescue adopts a fresh approach to company resuscitation. With relatively easy access to the procedure, business rescue caters for the restructure of the business, debt or its equity to ensure either a return to solvency or a better return to creditors than in liquidation. The new regime is further underpinned by the 2008 Act purpose provision, which envisages an efficient business rescue procedure and further mandates that the resolution of financial distress be conducted in a manner that balances the rights and interests of all relevant stakeholders. It is in this light, that this study explores the interplay between section 7(k) and Chapter 6 of the new Act. Specifically, the work sets out to critique the manner in which our new business rescue regime balances competing stakeholder interests in its provisions and investigates whether current provisions provide an adequate framework for this to be done in a manner that enhances the regime's ability to return a financially distressed company to a position of solvency, as a primary objective. After discussing the previous judicial management regime and exploring the mechanics of Chapter 6, a comparative study of similar procedures in the United Kingdom and the United States is undertaken. The study further identifies a number of weaknesses and makes recommendation for improvement. DA - 2017 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2017 T1 - The balancing of creditor interests in business rescue provisions of the Companies Act 2008 TI - The balancing of creditor interests in business rescue provisions of the Companies Act 2008 UR - http://hdl.handle.net/11427/26884 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/26884
dc.identifier.vancouvercitationBuba ZP. The balancing of creditor interests in business rescue provisions of the Companies Act 2008. [Thesis]. University of Cape Town ,Faculty of Law ,Department of Commercial Law, 2017 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/26884en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentDepartment of Commercial Lawen_ZA
dc.publisher.facultyFaculty of Lawen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherCommercial Lawen_ZA
dc.titleThe balancing of creditor interests in business rescue provisions of the Companies Act 2008en_ZA
dc.typeDoctoral Thesis
dc.type.qualificationlevelDoctoral
dc.type.qualificationnamePhDen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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