MCL5903 ASSIGNMENT 1 2025 – FULLY ANSWERED (DUE 6 MAY 2025)

Description

MCL5903 Assignment 1 Memo | Due 6 May 2025. All questions fully answered. 
Question 1
1. Discuss the legal framework governing business rescue proceedings under South African
company law.
Question 2
2. Explain the meaning and legal interpretation of the term “reasonable prospect” in the context
of a business rescue application.
Question 3
3. Critically evaluate the difference between commercial and factual insolvency in the context of
liquidation proceedings.
Question 4
4. Analyse the requirements and process for launching a business rescue application in terms of
section 131(1) of the Companies Act 71 of 2008.
Question 5
5. Compare the purposes and consequences of business rescue versus liquidation under South
African company law.
Question 6
6. Discuss the relevance of court judgments such as Oakdene and Southern Palace in shaping
the business rescue jurisprudence in South Africa.
Question 7
7. Evaluate the role of creditors and auditors in influencing the outcome of business rescue and
winding-up applications.
Question 8
8. Suggest legal and strategic remedies available to companies in financial distress under South
African law.