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Time
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Speaker
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Material
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Why consider an offer of Compromise?
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8h00
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Arrival and registration (Tea and pastries served)
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8h15
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Introduction and welcome
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Robert
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8h30
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The general requirements for an Offer of Compromise
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Karl
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We will discuss the following requirements when dealing with Compromise offers:
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The implications of making an Offer of Compromise and dealing with Section 129(7);
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What is an Offer of Compromise;
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What are the processes which must be followed, for a Company to make an Offer of Compromise to its Creditor’s;
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What consideration must the director or liquidator give in dealing with a Compromise Offer;
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What information should be present to draft a Compromise Offer;
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What is the implication of the certificate signed by the directors; and
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When is it binding on all creditors?
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Presentation notes
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9h45
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Tea with snacks
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10h45
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Case study: Business rescue plan – General and financial requirements
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Karl
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We present a case study showing how, by using the book, to evaluate if a business plan complies with the requirements of the Act.
The case study deals with the prescribed structure of Compromise Offer, and we specifically focus on:
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Presentation of financial information, and on which dates this information must be presented;
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What is the impact of adjustments on the Income Statement and Balance Sheet and how must this be presented;
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How must the projections for three years be presented; and
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What tests must be performed by the directors when designing the Offer of Compromise?
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Case study: presenting a copy of offer of compromise business plan
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12h45
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Lunch (provided)
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14h00
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Discussion, Questions and Closing
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Karl
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