{"id":207070,"date":"2018-12-20T11:00:19","date_gmt":"2018-12-20T05:30:19","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=207070"},"modified":"2018-12-20T10:17:41","modified_gmt":"2018-12-20T04:47:41","slug":"application-for-business-rescue-proceedings-does-not-terminate-the-office-of-provisional-liquidators","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/12\/20\/application-for-business-rescue-proceedings-does-not-terminate-the-office-of-provisional-liquidators\/","title":{"rendered":"Application for business rescue proceedings does not terminate the office of provisional liquidators"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Supreme Court of Appeal of South Africa:<\/strong> This appeal was filed before a 5-Judge Bench comprising of Seriti, Cachalia, Molemela and Schippers, JJA; Mothle, AJA., against the judgment and order passed by the Gauteng Division of the High Court.<\/p>\n<p style=\"text-align: justify;\">The appellant was a limited liability company. Appellant was facing serious financial problems and was ailing as a result of which the company was placed in business rescue whereby provisional business rescue practitioner was appointment who found that the company should be placed under liquidation. The main issue before the court was whether the appointment and the powers of the duly appointed provisional joint liquidators were suspended in terms of Section 131(6) of the Act which states that until business rescue operation ends the liquidation proceedings was to be suspended. It was submitted that Section 131(6) of the Act does not change the status of the company in liquidation nor does it suspend the court order that placed the company under liquidation in the hands of the Master in terms of Section 141(2)<em>(a)<\/em>(ii) of the Act.<\/p>\n<p style=\"text-align: justify;\">High Court found that the appointment, office and powers of the provisional liquidators were not suspended as the words used in Section 131(6) was \u201csuspend\u201d which does not mean termination. What is suspended is the process of winding-up and not the legal consequences of a winding-up order. Therefore, this appeal was upheld. [GCC Engineering (Pty) Ltd. v. Lawrence Maroos, Case No. 901 of 2017, decided on 03-12-2018]<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>Supreme Court of Appeal of South Africa: This appeal was filed before a 5-Judge Bench comprising of Seriti, Cachalia, Molemela and Schippers, <\/p>\n","protected":false},"author":8808,"featured_media":39761,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,12],"tags":[32895,32894,32892,32893],"class_list":["post-207070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casebriefs","category-foreigncourts","tag-limited-liability-company","tag-provisional-liquidators","tag-rescue-proceedings","tag-terminate-office"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ 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These Guidelines shall come into effect for appointments as IRP, Liquidator, RP and BT with effect from July 1,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":246383,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/01\/application-under-s-7-or-s-9-ibc-is-an-independent-proceeding-unaffected-by-winding-up-proceedings-that-may-be-filed-qua-the-same-company-supreme-court\/","url_meta":{"origin":207070,"position":3},"title":"Application under S. 7 or S. 9 IBC is an independent proceeding unaffected by winding up proceedings that may be filed qua the same company; Supreme Court  \u00a0","author":"Editor","date":"April 1, 2021","format":false,"excerpt":"Supreme Court: The Division Bench of Rohinton Fali Nariman* and B.R. Gavai, JJ., addressed the instant appeal involving the question that whether an insolvency proceedings could be initiated after the winding up application had been admitted under the Companies Act. The Bench stated, \u201c\u2026every effort should be made to resuscitate\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/02\/sc-3-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":58431,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/07\/27\/section-14-of-the-limitation-act-1963-does-not-come-to-the-rescue-of-litigant-acting-malafide\/","url_meta":{"origin":207070,"position":4},"title":"Section 14 of the Limitation Act, 1963 does not come to the rescue of litigant acting malafide","author":"Sucheta","date":"July 27, 2016","format":false,"excerpt":"Supreme Court: Interpreting the provision under Section 14 of the Limitation Act, 1963, the Court said that despite liberal interpretation placed under the said provision, the matter in issue in the earlier proceeding and the latter proceeding has to be conferred requisite importance.\u00a0 The words \u201cin accordance with law\u201d under\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Supreme-Court_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":263263,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/07\/raj-hc%e2%94%82-order-of-provisional-attachment-cannot-survive-beyond-a-period-of-one-year-in-terms-of-s-83-2-cgst-act-provisional-attachment-order-stayed\/","url_meta":{"origin":207070,"position":5},"title":"Raj HC\u2502 Order of provisional attachment cannot survive beyond a period of one year in terms of S. 83 (2) CGST Act; Provisional attachment order stayed","author":"Prachi Bhardwaj","date":"March 7, 2022","format":false,"excerpt":"Rajasthan High Court: A Division Bench of Akil Kureshi CJ and Sudesh Bansal J ranted interim relief and stayed the provisional attachment order. \u00a0 The facts of the case is such that the petitioner's bank account was placed under provisional attachment by an order dated 03-12-2020 in exercise of powers\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/207070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=207070"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/207070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/39761"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=207070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=207070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=207070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}