Jul 28,2012 / News / Legal Brief

Q: What is post-commencement finance?
A: Post-commencement finance is finance provided to the company once business rescue proceedings have commenced.Section 135(1) of the Act also provides that any remuneration, reimbursement for expenses or other amount of money relating to employment that becomes due and payable by a company to an employee during business rescue, is also considered to be post-commencement finance.