Tongaat: A ticking time bomb set to go off in April

Tongaat head office stripped of expensive paintings and antiques ahead of a possible visit by liquidators. Photo supplied Tongaat Hulett has two critical deadlines in April: The liquidation hearing and the opening of its mills for the harvest season. But the company’s bank accounts are frozen after its business rescue practitioners filed for liquidation. The…

Amandeep Singh’s Top Produce & Ajaypal Singh’s Gurukirpa/Saran face million dollar kiwifruit tax debts

Two separate cases involving Bay of Plenty kiwifruit labour contractors have highlighted ongoing compliance issues in the industry, with Top Produce now owing $1.5 million to the Inland Revenue Department (IRD), and the earlier collapse of Gurukirpa Contracting Ltd and Saran Contracting Ltd revealing alleged unpaid taxes of $57 million. The cases, reported by the Herald, highlight…

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Aberdeen multi-asset trust proposes liquidation

The £41.4m Abrdn Diversified Income and Growth trust has released proposals for a voluntary liquidation of the company, to be voted on by shareholders at an annual general meeting in March. The board said this liquidation would be in the best interests of the company and its shareholders and has unanimously recommended a vote in…