Friday, 31 May 2013

South Africa: Supreme Court of Appeal considers concept of 'business rescue'

The Supreme Court of Appeal gave judgment earlier this week in Oakdene Square Properties (Pty) Ltd v Farm Bothasfontein (Kyalami) (Pty) Ltd (609/2012) [2013] ZASCA 68: see here or here (pdf). The case is noteworthy because it provided the court with its first opportunity to consider the concept of 'business rescue' as introduced by chapter 6 of the Companies Act 2008. A summary of the decision is available here (pdf).

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