The government has stepped up efforts to prevent the provisional liquidation of Tongaat Hulett Limited (THL), warning that the collapse of the sugar producer would have devastating consequences for thousands of jobs and rural livelihoods, particularly in KwaZulu-Natal.
Last month, Tongaat Hulett business rescue practitioners announced that they had filed an application to the High Court seeking to discontinue business rescue proceedings and place the company’s South African operations into provisional liquidation, following an extensive and exhaustive process to rescue it.
The Department of Trade, Industry and Competition (the dtic) on Tuesday confirmed that it will oppose the liquidation proceedings currently before the courts and…