Amended Business Rescue Plan as adopted on 6 December 2016
Dear Affected Party / Creditor,
On behalf of Morgado Plant Hire CC and myself I wish to thank you for your support in adopting the proposed business rescue plan. All the attendees and those who voted by proxy (in total 94% of the creditors listed in annexure “B”) supported the plan. It is seldom that a plan is supported by a hundred percent of the creditors present at the Section 151 meeting and your support is highly appreciated.
The typing errors were corrected in the amended business rescue plan attached hereto, and paragraph 24.2 was amended by inserting the following of which the creditors should take particular notice: “Claims not submitted to the BRP in the prescribed manner on or before 31 January 2017 will be deemed to have been forfeited as against the Company”. As mentioned in the plan, this will exclude possible contingent claims.
For your records, the following amendments were made:
1. The reference to annexure “A4” in paragraph 10.1 was changed to annexure “B”.
2. The reference to “repayment plan” and annexure “D4” in paragraph 10.5 was changed to “cash flow” and “D3”, respectively.
3. A reference to Nedbank was inserted in paragraph 15.4, which was previously erroneously omitted.
4. The dates in paragraph 28.24 that previously referred to 2016 were changed to 2017.
For your convenience, we attach hereto the amended business rescue plan, as adopted by the creditors, together with an updated annexure “B”. No changes were made to the other annexures.
Dear Affected Parties,
NOTICE TO CONSIDER THE BUSINESS RESCUE PLANYou are hereby notified of the date, time, place and agenda of as well as a summary of your rights to participate in and vote at a meeting to consider the business rescue plan of Morgado Plant Hire CC.Find attached hereto the following:
Kindly further take note of the following errors in the plan which should be corrected: * page 17, paragraph 10.1 - "A4" should read "B" * page 18, paragraph 10.5 - "D4" should read "D3" and "repayment plan" should read "cash flow" * Page 30, paragraph 28.24 - the year should read "2017" and not "2016"
To download the below attachments please click on the links below:NOTICE OF MEETINGAGENDA – SECTION 151 MEETING OF THE AFFECTED PARTIESPROXY FOR MORGADO PLANT HIRE CC
BUSINESS RESCUE PLAN PLUS ANNEXURES
Dear Affected Person,
We attach herewith the business rescue plan with annexures published in terms of Section 150 of the Companies Act
The meeting to consider the plan will be held on Monday 5 December 2016. The relevant formal notices and agenda will be sent to you within the next few days.Please click the below links to Download the full attachments
TO: ALL AFFECTED PERSONS
PLEASE TAKE NOTE OF OUR VOLUNTARY COMMENCEMENT OF BUSINESS RESCUE PROCEEDINGS
Please click the below links to Download the full document
FIRST MEETING OF CREDITORS (CLICK TO DOWNLOAD)
FIRST MEETING OF EMPLOYEES (CLICK TO DOWNLOAD)
CLAIM FORM (CLICK TO DOWNLOAD)
Date of meeting: 28 October 2016Time: 11h00Place: Morgado Plant Hire CC, 161 Chris Hani Road, Glen Anil DurbanPlease RSVP for seating arrangements to
Minutes of First meeting of Creditors - CLICK HERE TO DOWNLOAD
Durban-based Morgado is one of the country's largest plant hire companies but they would prefer to be best known for their quality of service and machines than for the size of their operation.
"At Morgado, we pride ourselves on providing good back-up and supplying top class machinery to our customers."
Morgado Plant Hire is the only plant hire company that has one in the Country. A BELL B45D
Contact Joey Nainaar at Morgado PlantTel: (031) 569 4750Fax: (031) 569 4758Email: email@example.com
161 Old North Coast RdGlen Anil4051
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