Fri, February 21, 2025
Thu, February 20, 2025
Wed, February 19, 2025
[ Wed, Feb 19th ]: sanews
Budget speech postponed
Tue, February 18, 2025
Mon, February 17, 2025
[ Mon, Feb 17th ]: Forbes
Ingmar Rentzhog
Sun, February 16, 2025
Sat, February 15, 2025

Tongaat Hulett wins crucial court battle for business recovery

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -crucial-court-battle-for-business-recovery.html
  Print publication without navigation Published in Business and Finance on by MSN
          šŸž› This publication is a summary or evaluation of another publication šŸž› This publication contains editorial commentary or bias from the source
  The Durban High Court has dismissed RGS Group's attempt to halt Tongaat Hulett's business rescue implementation, paving the way for Vision Group's R8. 2 billion recovery plan. The ruling marks a signi

Tongaat Hulett, a South African sugar producer, has won a crucial court battle that is pivotal for its business recovery efforts. The Durban High Court dismissed an application by the South African Sugar Association (Sasa) to place Tongaat Hulett under provisional liquidation. This legal victory allows Tongaat Hulett to proceed with its business rescue plan, which is aimed at restructuring the company to avoid liquidation and preserve jobs. The court's decision was based on the argument that the business rescue practitioners were making progress in their efforts to revive the company, and that liquidation would be detrimental to all stakeholders, including employees and creditors. This ruling provides Tongaat Hulett with the necessary legal framework to continue its operations and work towards financial stability.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/money/economy/tongaat-hulett-wins-crucial-court-battle-for-business-recovery/ar-AA1zlxT5 ]

Similar Business and Finance Publications