Determination of corporate sickness: secured creditors can seek Tribunal relief and interim stays while rehabilitation is assessed.

A statutory scheme allowed secured creditors and designated public authorities to apply to the Tribunal for a declaration that a company is sick and for revival measures; the Tribunal could grant interim stays on winding up, recovery and appoint receivers, and had to determine within a fixed period whether the company was sick and whether repayment or rehabilitation within a reasonable time was practicable, imposing time limits, conditions and restrictions while the company faced constraints on disposal of assets and board actions.

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