Special Investigating Units and Special Tribunals Act, 1996
R 385
Cross-Border Insolvency Act, 2000 (Act No. 42 of 2000)Chapter 2 : Access of Foreign Representatives and Creditors to Courts in Republic14. Notification to foreign creditors of proceedings under laws of Republic relating to insolvency |
| (1) |
| (a) | Whenever under the laws of the Republic relating to insolvency notification is to be given to creditors in the Republic, such notification must also be given to the known creditors that do not have addresses in the Republic. |
| (b) | The court may order that appropriate steps be taken with a view to notifying any creditor whose address is not yet known. |
| (2) |
| (a) | Such notification must be made to the foreign creditors individually, unless the court considers that, under the circumstances, some other form of notification would be more appropriate. |
| (b) | No letters rogatory or other similar formality is required. |
| (3) | When a notification of commencement of proceedings is to be given to foreign creditors, the notification must— |
| (a) | indicate a reasonable time period for filing claims and specify the place for their filing; |
| (b) | indicate whether secured creditors need to file their secured claims; and |
| (c) | contain any other information required to be included in such a notification to creditors pursuant to the law of the Republic and the orders of the court. |
