The KwaZulu-Natal High Court hearing regarding the potential liquidation of Tongaat Hulett starts today, 16 April, with three parties set to oppose the sugar giant’s liquidation.
SA Canegrowers, one of the parties seeking to block the liquidation, described this hearing as a “watershed moment” for two-thirds of South Africa’s sugarcane growers.
“More than 18,000 growers, the bulk of whom are small-scale growers, have no other option than Tongaat Hulett mills to process their sugarcane,” the organisation said.
“Should the company enter an unfunded liquidation, their farms could become economically unviable, leading to thousands of rural job losses.”
This comes after Tongaat Hulett’s business rescue…