Cap. 631 ст. 21Protection of restructuring related transactions.     Cap. 386.    Cap. 16.  Cap. 632.

(1) Any transactions reasonably entered into by the debtor, as the debtor may prove to be directly necessary for the negotiation of a restructuring plan in the course of preventive restructuring procedures, or for the implementation of a restructuring plan that has been confirmed in terms of this Act, including, without limitation, fees and costs incurred for:

(a) the negotiation, adoption, or confirmation of a restructuring plan;

(b) the provision of professional advice closely connected with the restructuring;

(c) the payment of workers’ wages for work already carried out; and

(d) any other payments or disbursements made in the ordinary course of the debtor’s business, shall, in the case of any subsequent insolvency proceedings in respect of the debtor, not be declared void, voidable, or unenforceable, or constitute a basis for any claim or allegation of wrongful trading, or fraudulent preference in terms of the Companies Act, that may be brought against the debtor:

Provided that the provisions of this sub-article shall not, in any way, limit the entitlement of a creditor to bring an action on the basis of article 1144 of the Civil Code.

(2) Without prejudice to the protections stipulated in sub-article (1)(a), the remuneration of an insolvency practitioner, as well as any expenses incurred or disbursements made by the insolvency practitioner in the exercise of its functions, shall represent a privileged claim over the assets of the debtor, which, notwithstanding anything contained in any other law, shall be paid with priority to all other secured or unsecured debts of the debtor.

(3) The Minister may, in consultation with the competent authority mentioned in the Insolvency Practitioners Act, make regulations for the payment of expenses and remuneration of the insolvency practitioner.

(4) The Court shall have the power to order that the payment of the expenses and remuneration of the insolvency practitioner are paid in terms of regulations made in terms of sub-article (3).

(5) Any agreement, howsoever formulated, that purports to exclude or limit the provisions of this article, shall be null and void.