Kaya 959 Kaya Biz

Tongaat Hulett: Rescue, Liquidation and the R11.7bn power struggle

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Northern KwaZulu-Natal’s agricultural backbone is hanging in the balance as the battle over Tongaat Hulett Limited intensifies. At stake are thousands of direct jobs, tens of thousands of rural livelihoods, and the stability of one of the province’s most important agro-industrial ecosystems. The provisional liquidation application brought by the business rescue practitioners has now collided head-on with a forceful opposing affidavit from RGS according to AmaBhungane investigation, which alleges procedural abuse, material non-disclosure and what it describes as predatory conduct surrounding the acquisition and enforcement of R11.7-billion in lender claims by Vision. Rute Moyo, Vision Group Member joins KayaBiz to help us understand if saving the business is still the objective
2 Mar 2PM English South Africa Business News · Investing

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