Tongaat Hulett has been given breathing room after the KwaZulu-Natal High Court postponed its provisional liquidation hearing to June.
The decision follows a last-minute funding boost that will keep the struggling sugar producer running for now.
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A Post-Commencement Funding (PCF) facility backed by the Industrial Development Corporation (IDC) has been extended to June 30 and increased from R2.3 billion to R2.5 billion.
The extra funding is expected to cover day-to-day operations while talks continue over a long-term rescue plan.
The liquidation matter, heard on Thursday, will now return to court on June 17 and 18.
The postponement was…