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High Court appoints examiner to group of companies, notwithstanding opposition from bank.
Company law - examinership - petition seeking appointment of examiner to group of companies - opposition from bank - intention of bank to appoint "trading receiver" to companies - purpose of examinership - whether for benefit of economy and jobs or for shareholders - whether reasonable prospect of survival - discretionary issues - whether intention of principal shareholder to write down secured debt of company - practical difference between examinership and "trading receivership".
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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