The board members of Abil were negligent and reckless, according to advocate John Myburgh’s now-public report.
The Competition Commission has recommended an offer by the retail giant to acquire the stores and staff of the failed furnisher.
The holders of preference shares are at risk of losing their capital – but now there is an offer to acquire all of them.
The furniture retailer’s balance sheet was burdened by climbing bad loans and restructuring within the group.
The struggling retailer’s shares rose on news that it had found a buyer for its loan book, allowing it to focus on its retailing and product range.
The Reserve Bank has placed the sinking lender under curatorship in a bid to save investors.
Head of the country’s largest unsecured lender, Leon Kirkinis, has stepped down with immediate effect as the bank plans a capital increase.
African Bank says holders of its debt cannot ask for an early repayment of its bonds, despite being downgraded to "junk" status last week.
The clothing retailer looks to bolster sales by enabling pressurized consumers to buy more on credit.
A major hedge fund is shorting shares in the unsecured lender in expectation of further declines.
A larger than expected loss has not phased investors who believe better days are ahead for the countries largest unsecured lender.
The unsecured lender’s interim results show a loss of R4.4-billion as its customers struggle to repay loans.
African Bank Investments aims to raise R4-billion through a Goldman Sachs rights offering and the sale of furniture retailer Ellerines.
Capitec has been fairly unscathed by the ailing economy, but wont be spared in the slowdown in the unsecured lending market.
South Africa’s biggest unsecured lender is rated highly despite increasing bad debt
