Summarise and paraphrase, keep the sources including those in brackets:

Question

27.6 The business rescue plan
The business rescue plan is essential to business rescue
proceedings because it sets out the practitioner’s blueprint
for rescuing the company. The plan must provide for the
restructuring of the company’s affairs, business, property,
debt and equity and must maximize the likelihood of either
the company’s continuing in existence on a solvent basis or
achieving a better return for the company’s creditors and/or
shareholders than would have been the case in an
immediate liquidation (s 128(1)(b)(ii)). Although an
application for business rescue must contain a factual basis
to show that a plan meeting this requirement could be
developed, a proposed plan cannot be required in a
commencement application because it is the responsibility
of the practitioner (Oakdene Square Properties (Pty) Ltd &
others v Farm Bothasfontein (Kyalami) (Pty) Ltd & others
2013 (4) SA 539 (SCA) 552–3). The practitioner must
consult with creditors, other affected persons and the
management of the company before preparing the plan
(s 150(1)). Consultation involves more than merely
informing affected persons and the company management
(Hlumisa Investment Holdings (RF) Ltd v Van der Merwe NO
2015 JDR 2231 (GP) para 22, referring to Scalabrini Centre
& others v Minister of Home Affairs & others 2013 (3) SA
531 (WCC) 553). Meaningful consultation entails that the time so that it can tender helpful advice, followed by the
consulting party’s taking sufficient time to consider that
advice before reaching a decision (Scalabrini Centre &
others v Minister of Home Affairs & others (supra) 553). An
affected person’s right to be consulted does not depend on
whether he can vote at the meeting to consider the plan
(Hlumisa Investment Holdings (RF) Ltd & another v Van der
Merwe NO & others (supra) para 25).

Answer 1

Summary of the Business Rescue Plan

The business rescue plan is crucial for business rescue proceedings, serving as the practitioner's strategy to save the company. This plan must outline how to restructure the company's affairs, business operations, property, debt, and equity, with the aim of ensuring the company's viability or providing creditors and shareholders with a better return than they would receive through immediate liquidation (s 128(1)(b)(ii)). While an application for business rescue must demonstrate the potential for such a plan, it does not need to include the actual proposal at the outset, as formulating the plan is the practitioner's duty (Oakdene Square Properties (Pty) Ltd & others v Farm Bothasfontein (Kyalami) (Pty) Ltd & others 2013 (4) SA 539 (SCA) 552–3).

Prior to drafting the plan, the practitioner is required to consult with creditors, affected parties, and the company's management (s 150(1)). This consultation process is more than just informing these parties; it involves meaningful engagement where ample time is given for advice to be provided and considered before decisions are made (Hlumisa Investment Holdings (RF) Ltd v Van der Merwe NO 2015 JDR 2231 (GP) para 22, referencing Scalabrini Centre & others v Minister of Home Affairs & others 2013 (3) SA 531 (WCC) 553). Additionally, an affected person's right to consultation is independent of their voting ability at the meeting regarding the plan (Hlumisa Investment Holdings (RF) Ltd & another v Van der Merwe NO & others (supra) para 25).