Mail & Guardian
Mail & Guardian

Liquidation

latest news & developments
BUSINESS RESCUE

Tongaat Hulett gets lifeline as court grants delay in liquidation bid

Tongaat Hulett has been granted a temporary reprieve from liquidation after the Durban High Court approved an adjournment, giving business rescue practitioners time to finalise a…

  • Sandile Motha
4 min read
Challenged: IFP leader Velenkosini Hlabisa
BLACK ECONOMY

IFP will take to the streets to defend Ithala, says Hlabisa

The SOC will be at the high court on Thursday to oppose an application for its liquidation

  • Stella Mapenzauswa
4 min read
Ster-Kinekor’s successful exit from business rescue has saved it from liquidation and ensured the continued employment of staff and the refinancing of existing capital structures.
BLANTYRE CAPITAL LIMITED

Ster-Kinekor escapes liquidation, thanks to investment

The R250 million transaction involved dealing with the cinema group’s debt, as well as the purchase of 100% of its shares by UK and local firms

  • Anathi Madubela
2 min read
Over the past decade, the South African Post Office has had significant business problems, including debt to creditors and poor revenue collection.
CAMERON MACKENZIE

Post Office owes R842m to worker pension fund and medical aid

There is growing concern about a possible liquidation of the entity should it not be repurposed

  • Chris Gilili
5 min read
‘Temporary suffering’: Bernard Mostert has cofounded a new footwear company but is determined to have his day in court to try to obtain Steinhoff’s liquidation. (Chris Leggatt)
BERNARD MOSTERT

Tekkie Town’s Steinhoff fight: ‘We will get our business back’

Bernard Mostert on the ordeal of losing a business he helped build and the fight to get it back

  • Sarah Smit
7 min read
BANKING ASSOCIATION OF SOUTH AFRICA

Small business owners closing shop and feeling the financial squeeze

The hopes and dreams of many entrepreneurs have been dashed. We track some of the owners of SMMEs, who talk of losing everything they worked for

  • Tshegofatso Mathe
  • Sarah Smit
6 min read
SA Express employees beat out 16 other interested parties to buy a stake in the troubled state-owned airline.
BUSINESS RESCUE

Workers get their slice of SA Express

Proposals for how to carve up ownership of the airline could mean that the government will no longer hog the whole pie

  • Thando Maeko
4 min read
SAA is about to be closed, which will pave the way for a new airline. (Delwyn Verasamy/M&G)
BUSINESS RESCUE

SAA crash-lands but new airline will take off

During discussions between unions and business rescue practitioners and the government, it was decided that the national carrier would be closed and a new airline formed

  • Thando Maeko
2 min read
As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts. (John McCann/M&G)
AIR CHEFS

SAA rescuers give affected parties two options: Wind down or liquidate

As SAA subsidiaries declare hardship to staff, business-rescue practitioners urge them to sign agreements to save severance payouts

  • Sabelo Skiti
7 min read
BLACK FRIDAY

SAA cut off to protect other SOEs

After years of pumping billions into the airline, government picked business rescue to prevent a wider fallout at Eskom and other state entities

  • Sabelo Skiti
  • Thando Maeko
9 min read
Bosasa CEO Gavin Watson (L) and former Bosasa COO Angelo Agrizzi in happier times.
ABSA

Bosasa tells court: We are being hijacked by liquidators

Bosasa wants the decision to place the company under voluntary liquidation, should be declared null and void

  • Kyle Cowan
4 min read
Kuben Naidoo, chief executive of the prudential authority, says the curator found VBS could not be resuscitated. (Oupa Nkosi/M&G)
KUBEN NAIDOO

VBS needs to be wound up ‘urgently’

Reserve Bank is second to apply for liquidation and it remains to be seen if this causes a delay

  • Lynley Donnelly
4 min read
Bluster: Creditors are owed millions but Ioannis Ntinos seems to have few assets. But he does have another company
CAPE TOWN

Rotten deals follow Cosmo Fruit

Liquidators are searching for assets after Ioannis Ntinos’s company was declared insolvent

  • Jessica Bezuidenhout
6 min read
Minister of Mineral Resources Gwede Mantashe. (Gallo)
ANC

ANCYL faces new liquidation threat as creditors come calling

The ANC settled the league’s previous creditors in March, but now Gallagher Estates wants the money it is owed for the 2011 ANCYL conference.

  • Verashni Pillay
4 min read
Moves to oust Goldrich from Blyvoor
GOLD

Moves to oust Goldrich from Blyvoor

Alleging asset stripping and illegal gold sales from the mine, liquidators warn of an Aurora rerun

  • Sally Evans
9 min read