A compromise can be utilized to reach an agreement for a workout or financial restructuring with financial creditors, like banks and other lenders, while keeping trade creditors intact. The compromise may involve stipulations, such as needing approval from all creditor classes or requiring similar agreements to be accepted by creditors of affiliated companies. Minitennis (Pty) Ltd might explore creditor compromise as a viable option.
paraphrase:
A compromise may be used to achieve a workout or financial restructuring with financial creditors such as banks and other financiers only, while leaving trade creditors unaffected. Compromise may include conditions: for example, that the compromise will take effect only if approved by all the classes of creditors or if similar compromises are adopted by creditors of other companies in the same group. Minitennis (Pty) Ltd may consider compromise of creditors as an option.
1 answer