On the basis that the Company entered into Business Rescue on 5 May 2020, all creditors, including Contingent Creditors and Disputed Creditors, who are not reflected in Annexure B to the business rescue plan, as amended, had until 24 March 2021 to lodge their claims (with supporting documentation for each such claim) against the Company.
If you believe you have a claim against the Company and failed to file a claim by 24 March 2021, the claim will be expunged, and you may be barred from enforcing your claim against the Company.
Creditors will receive a distribution, as guided by the business rescue plan (table 1, clause 5.3.3.).
Concurrent Creditors are projected to be paid 1-2 cents for every rand owed to them and payment of these distributions are projected to commence 1 December 2021 (clause 5.4.4) over a period of 24 months from the Substantial Implementation Date (clause 7.2.25).