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Delivered by Email To:All known Affected Persons of Consolidated Power Projects (Pty) Ltd. (in business rescue) Companies and Intellectual Property CommissionDisplayed:Registered Office and Principal

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How to fill out if business rescue proceedings

01

Contact a business rescue practitioner

02

Prepare the necessary documentation such as financial statements and business plans

03

Submit the required forms and documents to the Companies and Intellectual Property Commission (CIPC)

04

Await approval from the CIPC and creditors for the business rescue plan

05

Implement the approved business rescue plan

Who needs if business rescue proceedings?

01

Companies that are financially distressed and are unable to pay their debts

02

Companies that believe they have a reasonable chance of being saved through restructuring and refinancing

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What is if business rescue proceedings?

Business rescue proceedings are a process aimed at rehabilitating a financially distressed company in order to avoid liquidation.

Who is required to file if business rescue proceedings?

Any company that is financially distressed and meets the criteria set out in the Companies Act may file for business rescue proceedings.

How to fill out if business rescue proceedings?

To file for business rescue proceedings, a company must appoint a business rescue practitioner who will oversee the process. The practitioner will work closely with the company's management to develop a business rescue plan.

What is the purpose of if business rescue proceedings?

The purpose of business rescue proceedings is to provide a company with an opportunity to restructure its affairs and operations in order to improve its financial position and avoid liquidation.

What information must be reported on if business rescue proceedings?

Information that must be reported during business rescue proceedings includes financial statements, cash flow forecasts, creditor information, and details of proposed restructuring plans.

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