Discuss Southern Palace Investments 265 (Pty) Ltd v Midnight Storm Investments 386 Ltd 2012 (2) SA 423 (WCC) in respect of the question whether business rescue proceedings may be used to secure a better return for creditors or shareholders where there is no clear prospect of the company continuing to operate on a solvent basis or being restored to solvency.

Note: in the answer

1. Facts of the case

2.Legal question

3.Ratio decidendi

4.Findings

*Insolvency Law*- South Africa