Feb-March 2020 Report
17 March 2020
To Whom It May Concern
February / March 2020 Report: Orthotouch (Pty) Ltd (In Business Rescue)
Business Rescue Proceedings
- Commencement of Business Rescue: 7 November 2019
- Appointment of Business Rescue Practitioner (BRP) – J du Toit: 14 November 2019
- First Meeting of Employees: 27 November 2019
- First Meeting of Creditors: 28 November 2019
- Business Rescue Plan filing date: 31 March 2020
- All timelines have been met, accordingly the BRP is currently in the process of finalising the Business Rescue Plan and will be filed on or before 31 March 2020.
- The BRP has completed his investigations and is using all investigative information to finalise the Business Rescue Plan.
- The Business Rescue Plan, once available and published, will be made available through public media. The plan will be available to all, at certain dedicated venues, via a drop box link, on the website, and investors / creditors will be informed of the Publication of the Business Rescue Plan by way of SMS or WhatsApp.
The BRP will need to engage with creditors / investors within 10 business days after the Business Rescue Plan has been published. This normally takes place as a 2nd creditors meeting but due to the COVID-19 outbreak and national state of disaster being declared, the BRP will be making alternative arrangements, in line with the Companies Act, to engage with the creditors / investors. This will be advised in due course.
Du Toit Business Rescue Practice
Per: Jacques Du Toit (Senior Business Rescue Practitioner)