KwaZulu-Natal sugar giant Tongaat Hulett Ltd (THL) has been saved from liquidation after a binding agreement was reached between Business Rescue Practitioners, the Industrial…
Former SA Steel Mills owner Rafik Mohamed’s bail application was postponed until 4 June and the case transferred to the Specialised Commercial Crimes Court
The case was postponed to 10 June, when Rajahussen is expected to respond to allegations that RGS fraudulently submitted a R2 billion proof-of-funding bank letter as part of its…
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…
Vision, the lead secured lender to the troubled sugar giant, said it was committed to saving the company and jobs despite the business rescue process failing
In this financial year’s budget, Parliament did not allocate funding for the South African Post Office, which is waiting for a R3.8 billion tranche
The ‘old fashioned’ carrier is still struggling for passengers
The national carrier told parliament that a final draft external audit report is expected at the end of May this year
Mahendren Munsamy, accused of stealing R420 million from FNB and Sasol, allegedly also stole from Singh
The South African Canegrowers Association says the sugar industry is in crisis after Tongaat Hulett was put under business rescue
KwaZulu-Natal grower consortium wants to buy Tongaat Hulett operations
Next season is also under threat if sugar giant’s mills close
Departing from its core business, and having its fingers in too many pies, is what crippled Tongaat Hulett and ultimately left it open to massive fraud
Tongaat Hulett said it entered into business rescue due to its debt burden and that waiting for additional funding exacerbated the already dire situation
The beleaguered national carrier resumed flights between Johannesburg and Cape Town last September after exiting business rescue
Takatso consortium will now own 51% of the airline and the state 49%
The airline’s outstanding government guaranteed debt is R6.4-million and the treasury says there are no new guarantees to mitigate future risks to the fiscus
The minister addresses the future of the country’s state-owned entities and speculation they may be moved from his portfolio
After 18 months under administration, the loss-making airline has been cleared for takeoff
Mango’s spokesperson would not disclose the low-cost airline’s debt — which led to a brief suspension of flights — but described it as ‘huge’
