The much-anticipated Section 151 meeting to vote on the revised business rescue plan for Hendrik van Wyk Vervoer (Pty) Ltd (HVWV), initially scheduled for 19 June 2025, has been indefinitely postponed following a legal challenge by Daimler Truck Financial Services South Africa (Daimler).
The delay adds further complexity to an already embattled process that, as SA Trucker has previously argued, raises serious questions about the role of OEM financiers, creditor influence, and the very purpose of business rescue itself.
Daimler’s Legal Challenge: Voting Rights Dispute
The Business Rescue Practitioner (BRP) had excluded Daimler from voting in the meeting, on the basis that the repossessed assets (vehicles financed by Daimler) were estimated to be worth more than HVWV’s outstanding debt to them – thereby rendering Daimler’s claim nil for voting purposes.
The BRP’s valuation effectively removed Daimler’s approximately 65% voting interest from the decision-making table.
Daimler, however, is disputing this interpretation. In an urgent application filed on 18 June 2025, Daimler sought relief under Section 145(6) of the Companies Act, challenging the valuation methodology and arguing that, without the assets being sold, there can be no final determination of the recovery value. Therefore, their full claim – until proven otherwise – should entitle them to vote.
Their legal action includes a request for either:
1. The allocation of their original voting rights, or
2. A postponement of the Section 151 meeting pending final judicial review.
The court proceedings triggered the BRP’s decision to postpone the vote, citing the need to protect the integrity and legality of the process.
Legal Limbo: “Dead Men Don’t Tell Tales”
This turn of events echoes sentiments raised in our earlier coverage — particularly the piece titled “Business Rescue Practitioners or Stock Take Officers for Liquidators?” – where we highlighted how some BRPs appear to function more as neutral inventory clerks paving the way for liquidation than actual rescuers. In that piece, we cautioned against the well-oiled process that often moves from business rescue to liquidation with speed and silence, leaving owners, employees, and smaller creditors devastated and voiceless.
We noted then, as we do now, that “dead men don’t tell tales.” When a rescue fails — or is delayed long enough to collapse — so too do the questions about how, why, and who is responsible.
And it’s happening again.
The current legal impasse may take months — possibly years — to resolve. In that time, the chances of major banks and financiers tolerating further delays while they wait for a business rescue outcome that remains elusive is highly unlikely. As we wrote previously in “Hendrik van Wyk Vervoer: A Case of OEM Overreach or Systemic Industry Cover-Up?”, there’s a concerning pattern in which rescue plans stall, legal wrangling ensues, and fleets are gutted — quickly silencing those who may have otherwise raised uncomfortable truths about OEMs or financiers’ roles in a company’s demise.
This isn’t just a technical delay; it may well be the final blow.
Pressure from Creditors and Internal Contradictions
The pressure is mounting from more than one side. Centrafin, another secured creditor, has threatened to bring an application for the BRP’s removal should the meeting proceed without Daimler’s participation. Simultaneously, contradictions from the current rescue plan’s proposer are further clouding the process. Although their proposal requires all four entities in the group, they are now advocating to exclude HVWV —effectively altering their own terms midstream.
More on HVWV Business Rescue Saga
- Hendrik van Wyk Vervoer’s Fleet on Auction Block Amid Business Rescue Bid
- How Daimler Crushed Hendrik van Wyk Vervoer’s Rescue, and 181 Livelihoods
- Hendrik van Wyk Vervoer Rescue Update: Creditors to Decide the Future on 19 June
- How Business Rescue Has Become a Soft Landing for Liquidators
Worse, while their funding only becomes available in October 2025, they continue to pressure for immediate adoption, despite the unresolved legal dispute with Daimler. These inconsistencies have severely undermined confidence in the plan’s credibility.
Amid the stalemate, a new potential proposer has emerged, expressing interest in submitting a fresh business rescue plan. The BRP has acknowledged receipt of the expression of interest and will evaluate its viability, though this development is unlikely to proceed until Daimler’s challenge is resolved.
Unsettled Claims and Rising Employee Uncertainty
Additional creditor claims and amendments are still being processed, meaning voting weights remain fluid. More importantly, employees — the very people most impacted by business rescue — are again left in the dark. Wages are uncertain, job security has eroded, and livelihoods are in limbo.
Legal Clarity vs Economic Reality
The BRP has adjourned the Section 151 meeting pending the outcome of Daimler’s court application. While this may be the correct legal step, it could also spell the end of the road for HVWV. When courts move slower than repo trucks and auctioneers, rescue turns into erosion. The game of stalling and running down the clock — used by some to assert dominance in rescue processes – seems to be at play once again.
The broader question lingers: Is business rescue still serving its intended purpose, or has it become the first chapter in a company’s obituary?
One thing remains certain: the longer this drags on, the slimmer the chance of a true rescue and the clearer the pattern becomes.
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