You know they refer to the bankruptcy process by different names in different countries, right? In the US they will normally say Chapter 11 or Chapter 7....in Canada they call the process CCAA or BIA. They have two terms in the UK, I think one is called administration, but I've never followed a case there so don't qoute me. Guess what they call it in South Africa? Business Rescue Proceedings. GBG is in bankruptcy proceedings in all three countries.....please tell me this is not news to you?
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