The stakes are enormous: thousands of direct jobs; tens of thousands of rural livelihoods; north-ern KwaZulu-Natal’s agricultural core, indeed, potentially the very stability of the province.
But both the Tongaat Hulett Limited (THL) liquidation application – and RGS’s new affidavit opposing it – also raise urgent wider questions about the professional conduct of those who feed off corporate distress: the banks, the lawyers, the business rescue and liquidation industry – and of course the bidders who scramble to pick up the pieces.
Perhaps that’s why it feels like the business rescue practitioners (BRPs) and their lawyers are doing their best to ensure these questions – and the specific conduct of the THL…