Court finds FSCA acted correctly when questioning Tongaat executive
Appeal court reverses earlier judgment that the investigative process was flawed and the questioning unfair.
Source: moneyweb.co.za
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Tongaat Hulett's creditors finally accept rescue plan
The Tongaat Hulett plan offers more job security for tens of thousands of people whose livelihoods depend on the industry in KwaZulu-Natal.
Source: dailymaverick.co.za
Tongaat Hulett rescue plan: 'Creditors have the final say' – The Zimbabwe Mail
The business rescue practitioners (BRPs) of financially distressed Tongaat Hulett have confirmed that creditors will vote and have the final say on the proposed rescue plan for the JSE-listed sugar producer and property group. The BRPs, Metis Strategic Advisors, were responding to questions from Moneyweb about the relevance of preferred bidder status in the business…
Source: thezimbabwemail.com
Tongaat rescue plan: 'Creditors have the final say'
Current preferred bidder status means nothing.
Source: moneyweb.co.za
Tongaat creditors agree to postpone voting on business rescue plan
Embattled sugar manufacturer Tongaat Hulett has advised that the meeting for creditors to vote on the amended business rescue plans of the group, as well as two subsidiaries, has been moved to September 30. The business rescue practitioners (BRPs) of Tongaat and subsidiaries Voermol Feeds and Tongaat Hulett Sugar South Africa convened a meeting of creditors on June 14, and voted unanimously in favour of the BRPs amending the business rescue plans to take into consideration recent development and to delay the voting on the plans.
Source: engineeringnews.co.za