SACC 2386/1443

This case involved a request for a financial restructuring. The necessary documents had not been provided.

Background

An Attorney representing a Leasing and Construction Company filed a request for the approval to start a financial restructuring under Article 43 of the

regulations. They also asked for a trustee to be appointed and the suspension of all judicial and executive orders against the plaintiff and its owners in

accordance with Article 46 of the regulations.

Decision

The fifth article of the Information Regulation stated the documents that must be attached to the application. The application did not comply with paragraph (w) of that article required in terms of information, nor did it comply with paragraph (y) as it did not include all the supporting documents for stating claims and legal proceedings.

The application did not meet the legal requirements and the court ruled to reject it