Robert Gumede’s Vision Group and South Africa’s Industrial Development Corporation sealed a binding rescue agreement for Tongaat Hulett on Wednesday, averting the liquidation of the 134-year-old sugar producer on the same day a winding-up application was due to be heard in the Durban High Court. Tongaat Hulett’s business rescue practitioners formally withdrew the liquidation application…
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In the latest liquidation progress report, dated 29 May 2026, it was stated: “Since my last progress report, I have been liaising with the director’s solicitor in order to achieve an amicable resolution in relation to the payment made to the director prior to the company entering liquidation.” The report added: “This matter is ongoing…
By Charmaine Ndlela Tongaat Hulett has been pulled back from the brink of liquidation after its business rescue practitioners reached an agreement with the Industrial Development Corporation (IDC) and Vision Group to keep the 134-year-old sugar producer trading and proceed with its sale. The agreement, reached on Wednesday, clears the way for the implementation of…
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