The government of South Africa has moved to block the provisional liquidation of Tongaat Hulett Limited, warning that the collapse of the sugar producer could threaten thousands of jobs and rural livelihoods, particularly in KwaZulu-Natal, IOL reported.
Last month, the company’s business rescue practitioners approached the High Court seeking to end the rescue process and place Tongaat Hulett’s South African operations under provisional liquidation after attempts to stabilise the firm failed.
The Department of Trade, Industry and Competition (dtic) confirmed on Tuesday that it will oppose the liquidation proceedings in court and continue supporting efforts to find a workable…