Tongaat Hulett gets lifeline as court grants delay in liquidation bid
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Despite strong pushback from the RGS Consortium, Durban High Court Judge Rithy Singh has granted temporary relief to the business rescue practitioners (BRPs) to work out a plan to save sugar giant Tongaat Hulett Limited (THL).
A last-minute assurance by the Industrial Development Corporation (IDC), one of THL’s creditors, to extend its post-commencement finance facility until at least the end of June helped secure the adjournment.
The Vision Sugar Group, the largest secured creditor
A last-minute assurance by the Industrial Development Corporation (IDC), one of THL’s creditors, to extend its post-commencement finance facility until at least the end of June helped secure the adjournment.
The Vision Sugar Group, the largest secured creditor
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