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[1] This is an application in terms of section 153(1)(b)(bb) of the Companies Act 71 of 2008  (“the Companies Act”) in which the applicants seek to set aside a vote taken against a revised business rescue plan at a business rescue meeting on 31 July 2019.

[2] First applicant, Ferrostaal Gmb, is the 80% shareholder and a loan account creditor in the company in business rescue which is second respondent, Ferromarine Africa Proprietary Limited  (“hereinafter FMA”).  Second applicant is a minor creditor of FMA and the holder of the balance of the shares in FMA. 

[3] The first respondent is Transnet Soc Limited trading as Transnet National Ports Authority  (“hereinafter TNPA”) and has standing, inter alia by virtue of its authority over and interest in the Port of Saldanha.