A wave of cautious optimism has followed the postponement of the liquidation hearing of Tongaat Hulett Limited (THL), with stakeholders welcoming the decision while warning that uncertainty continues to weigh heavily on farmers and the broader sugar industry.
The Durban High Court last week adjourned the matter to mid-June, granting a temporary reprieve after THL’s business rescue practitioners filed for liquidation in February. The move had been opposed by the Department of Trade, Industry and Competition, the Industrial Development Corporation of South Africa Ltd (IDC), and several industry players.
The South African Farmers Development Association (Safda) welcomed the court’s decision, saying it offers a critical window to explore…