The liquidation proceedings of Tongaat Hulett are starting in the KwaZulu-Natal High Court, with the sugar industry and government officials looking to save the iconic company.
In February, it was confirmed that Tongaat Hulett would enter liquidation proceedings after business rescue practitioners failed to find a way to save the 134-year-old company.
The practitioners approached the KwaZulu-Natal High Court to terminate business rescue and place the group into provisional liquidation. This comes after a sale to the Vision Consortium failed.
The company’s formal incorporation of its predecessor companies, Sir J L Hulett and Sons and the Tongaat Sugar Company,…