Tongaat Hulett’s liquidation proceedings have been halted after the company received further funding, allowing it to extend its business rescue proceedings. The company was set to enter liquidation proceedings, but it received an extension of the Post-Commencement Funding (PCF) facility from the Industrial Development Corporation (IDC). The facility has been extended to 30 June 2026…
Tongaat head office stripped of expensive paintings and antiques ahead of a possible visit by liquidators. Photo supplied. Tongaat Hulett escaped liquidation on Thursday after the Industrial Development Corporation (IDC) agreed to increase its funding to R2.5-billion, allowing mills to open and 3.8 million tons of cane to be processed. More than 18,000 growers –…
Saudi Arabia on Thursday announced a $3 billion additional deposit to Pakistan’s central bank and extended an existing $5 billion deposit, in a move aimed at supporting the country’s economy, Anadolu reports. According to the state news agency SPA, the financial support is intended to enhance Pakistan’s economic stability and strengthen its resilience in the face…
Tongaat head office stripped of expensive paintings and antiques ahead of a possible visit by liquidators. Photo supplied. Tongaat Hulett escaped liquidation on Thursday after the Industrial Development Corporation (IDC) agreed to increase its funding to R2.5-billion, allowing mills to open and 3.8 million tons of cane to be processed. More than 18,000 growers –…