Business Rescue of Sail Minerals (Pty) Ltd (In Business Rescue)

This page contains relevant and important information regarding the Business Rescue Proceedings of Sail Minerals (Pty) Ltd (Sail Minerals" , "Company")

On 21 September 2021, the Company was placed under supervision and commenced business rescue proceedings in terms of section 131 of the Companies Act 71 of 2008 (as amended) ("the Companies Act") and Siviwe Dongwana was appointed as the business rescue practitioner ("the Practitioner").

Document available for download

1 Notice of Commencement of Business Rescue and Appointment of the Practitioner

   Notice of Commencement of Business Rescue and Appointment of the Practitioner

    CoR123_1_Confirmation Sail Minerals

    Notice of motion and founding affidavit

    Applicants submissions

    Answering affidavit

    Confirmatory affidavit

    Court Order

    Replying affidavit

    Respondent's heads of argument


2 First Creditors Meeting

    Notice of the First Creditors Meeting

    Ratification of the appointment of the Practitioner

    Presentation of the First Creditors and Employees Meeting

    Notice to affected parties of Sail Minerals (Pty) Ltd

3 First Employees Meeting

    Notice of the First Employees Meeting

4 Business Rescue Plan and Notices

    Request for extension of the publication of the business rescue plan

     Approval of extension of the date for the publication of the Business Rescue Plan

    Request for an extension for the publication of the business rescue plan - January 2022

     Approval of the extension of the publication date - January 2022

     Sail Minerals Proprietary Limited Business Rescue Plan (Signed)

     Annexure A - Intercompany loan accounts

     Annexure B - Material Assets

     Annexure C - List of Creditors

     Annexure D - Liquidation Calculation

     Annexure E - BRPs Remuneration Agreement

     Annexure F - Projected Statement of Income Statement

     Section 143 Notice (Signed)

     Section 150 Notice (Signed)

     Section 151 Notice (Signed)

     11.02.2022_Proxy Form

     First update report

     Second update report

     Notice to affected persons in terms of section 143 - Signed 

     Notice to affected persons in terms of section 151 -Signed

     Notice of s143 meeting result

     Notice of section 151 meeting result

      SAIL Minerals Section 151 meeting presentation FINAL

      Third Update Report - February 2022

     Fourth Update Report - March 2022

     Fifth Update Report - April 2022

      Sixth Update Report - May 2022

      Seventh Update Report - June 2022

      Eighth Update Report - July 2022

      Ninth Update Report - August 2022

      Tenth Update Report - September 2022

      Eleventh Update Report - October 2022

      Twelfth Update Report - November 2022

      Notice to affected persons (Black Chrome)(4908749.1) (002)

      Sail Minerals Application(4911654.1)

      Notice to affected persons(4908753.1)

      Sail Holdings Application(4911653.1)

      Notice of intention to oppose(4911656.1)

      Notice to affected persons(4953932.1)

      Thirteenth Update Report - December 2022

      Fourteenth Update Report - January 2023

      Fifteenth Update Report - February 2023

      Sixteenth Update Report - March 2023

      Seventeenth Update Report - April 2023

      Eighteenth Update Report - May 2023

      Nineteenth Update Report - May 2023

Claim Form

In order for the Practitioner to ensure that your claim is captured correctly and reconciled to the Company ledger, all affected persons are required to complete the Claim Form, found below.

    Claim form

Please submit your claim form, together with all supporting documentation, to

Manual claims can be submitted to the Practitioner at: 

Adamantem Chartered Accountants (SA)

1st Floor Corner House 

77 Commissioner Street