Following a protracted legal battle, the Western Cape High Court has provisionally ordered the liquidation of trading platform Banxso (Pty) Ltd. Handing down the ruling, Judge Andre le Grange questioned the legality of the Banxso’s business model, following accusations that pensioner Carol Wentzel lost over R500,000 through the platform. However, in a statement issued to…
32 Murray & Roberts has clarified that the liquidation proceedings against its holdings company, Murray & Roberts Holdings Limited (MRH), are separate from and have no impact on the business rescue of its subsidiary, Murray & Roberts Limited (MRL), ensuring the ongoing Differential Transaction and operations remain unaffected. Background to the Clarification and Company Challenges…
Banxso vows to fight back after court orders provisional liquidation MSN Read the original article here
Court places Banxso in provisional liquidation News24 Read the original article here
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Century Sunshine Group Holdings Limited ( (HK:0509) ) has shared an update. Century Sunshine Group Holdings Limited announced that the Donghai County People’s Court’s auctions of Longteng…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
The Western Cape High Court has placed CFD trading platform Banxso under provisional liquidation, with Judge André le Grange handing down a damning judgment that described the company as operating a fraudulent and predatory business model that preyed on vulnerable investors. The application was brought by 60-year-old pensioner Carol Margaret Wentzel, who lost more than…
Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. ST Group Food Industries Holdings Limited ( (SG:DRX) ) has shared an update. ST Group Food Industries Holdings Limited has announced the proposed creditors’ voluntary liquidation of…
Nine non-bank financial institutions (NBFIs) out of a total of 35 are likely to be liquidated in the interest of depositors, making it the first such incident in the financial sector. The nine NBFIs are: FAS Finance, Bangladesh Industrial Finance Company, Premier Leasing, Fareast Finance, GSP Finance, Prime Finance, Aviva Finance, People’s Leasing and International…
A union has welcomed the government taking over a troubled steel company, but is warning that payment for workers must be a top priority. Speciality Steels UK – which employs almost 1,500 people – was pushed into compulsory liquidation yesterday, and is the third-largest producer in the country. It is part of the Liberty Steel…