Employees at audit firm Nkonki have applied to a Pretoria court to block the companys liquidation and have it put into administration instead so that there is a chance the business can be rescued, according to a court filing.
Last month, Nkonki said damage to its brand and uncertainty over future revenue streams had led to the decision to liquidate the company. This was after Auditor-General Kimi Makwetu terminated its contract with Nkonki in April, following reports that a management buyout, led by Nkonkis former CEO Mitesh Patel, was funded by an associate of the Gupta family.
The Auditor-General had initially decided to await the outcome of independent investigations into KPMG but realis…
Read the full article at: https://www.businesslive.co.za/bd/companies/financial-services/2018-05-16-nkonki-staff-want-administration-and-rescue-rather-than-liquidation/
