Samuel is the director of a printing company, Print Your Paper (Pty) Ltd, which specialises in the printing of academic journals. Samuel is concerned about the trend to move away from publishing hard copies of journals towards publishing academic journals electronically. Although Print Your Paper (Pty) Ltd is not insolvent and does not have cash flow problems, he is considering entering into an agreement with the creditors of Print Your Paper (Pty) Ltd in terms of which Print Your Paper (Pty) Ltd offers to pay 80% of all creditors' claims against the company in full and final settlement. Samuel knows the offer will be accepted by most of the creditors, but a small minority might reject the offer. Samuel approaches you for legal advice in order to establish whether there is a specific procedure in the Companies Act 71 of 2008 that makes it possible to make the settlement agreement binding on all creditors if the offer to creditors is accepted by most of them. In your opinion to Samuel you must: 1. Suggest and name a suitable procedure that may be used by the company. Explain what this procedure entails and discuss the requirements that must be met in order to effect the procedure. Do not discuss the contents of any relevant documentation.