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Tongaat Hulett faces liquidation hearing next week

Business Rescue Practitioners say there are no viable alternatives to a rescue plan that has legally lapsed

Tongaat head office stripped of expensive paintings and antiques ahead of a possible visit by liquidators. Photo supplied

The Durban High Court will hear arguments next week on whether to liquidate sugar giant Tongaat-Hulett.
The SA Canegrowers Association says 27,000 small-scale growers, tens of thousands of farm workers, and entire rural communities face devastating consequences if it is liquidated.
The Business Rescue Practitioners (BRPs) say there are no viable alternatives to a rescue plan that has legally lapsed.
The IDC, which extended R200-million in emergency funding in May, says the BRPs have “exaggerated the dire financial position”.

Next week could be D-Day for the commercial survival of sugar giant Tongaat Hulett.
Arguments will be presented on Tuesday and Wednesday in…

Read More: Tongaat Hulett faces liquidation hearing next week.

Desmond Tutu, a prominent cleric and activist, played a crucial role in the fight against apartheid and for
human rights.

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