The provisional liquidation application brought by the business rescue practitioners of Tongaat Hulett Limited is expected to be heard in the Durban High Court today.
The Industrial Development Corporation (IDC) on Thursday filed its notice of intention to oppose the liquidation application. The Department of Trade, Industry and Competition had said earlier that it together with other organs of state, will oppose the liquidation and will “continue to support all lawful efforts aimed at finding a viable and durable resolution”.
The matter has much public interest as SA Canegrowers pointed out Tongaat Hulett’s importance to the sugar industry as a whole. Its milling operations are relied upon by 18 000 growers, with no other milling…