While Tongaat Hulett Pty Limited’s (THL) business rescue practitioners (BRPs) seek liquidation, which they regard as a solution to the financially-ailing South African sugar producer, parties opposed to the move have filed court papers to block it.
Among those opposing liquidation is the Industrial Development Corporation (IDC), which has warned that the move would lead to the winding-up, business interruption and possible cessation of operations.
In an affidavit deposed by ...