Following a protracted legal battle, the Western Cape High Court has provisionally ordered the liquidation of trading platform Banxso (Pty) Ltd.

Handing down the ruling, Judge Andre le Grange questioned the legality of the Banxso’s business model, following accusations that pensioner Carol Wentzel lost over R500,000 through the platform.

However, in a statement issued to the media on Friday afternoon, Banxso said it vehemently disagrees with the ruling and said the company would fight it with the greatest of urgency.

The company said it would pursue all legal remedies, including appeals, stressing that the liquidation ruling would have severe operational, economic and social consequences for its employees, service providers and…

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Murray & Roberts has clarified that the liquidation proceedings against its holdings company, Murray & Roberts Holdings Limited (MRH), are separate from and have no impact on the business rescue of its subsidiary, Murray & Roberts Limited (MRL), ensuring the ongoing Differential Transaction and operations remain unaffected.

Background to the Clarification and Company Challenges

In a statement released on 20 August 2025, Janke Tolmay from Ockham Communications addressed concerns raised by recent media reports that had incorrectly linked the liquidation of MRH with the business rescue process of MRL. The statement emphasised that MRH and MRL are distinct legal entities, with MRH serving as the ultimate JSE-listed…

Specialty Steel UK sent to liquidation due to insolvency

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Century Sunshine Group Holdings Limited ( (HK:0509) ) has shared an update.

Century Sunshine Group Holdings Limited announced that the Donghai County People’s Court’s auctions of Longteng Company’s land use and serpentine mining rights were unsuccessful, leading to the acceptance of a bankruptcy liquidation application by a creditor. The Group is exploring solutions to improve liquidity, including disposing of non-core assets, and the current situation does not significantly impact its other operations. Trading of the company’s shares…

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The Western Cape High Court has placed CFD trading platform Banxso under provisional liquidation, with Judge André le Grange handing down a damning judgment that described the company as operating a fraudulent and predatory business model that preyed on vulnerable investors.

The application was brought by 60-year-old pensioner Carol Margaret Wentzel, who lost more than R500 000 of her retirement savings through Banxso’s trading platform. Wentzel argued that Banxso’s activities were unlawful and void under South African law, and that the company was a criminal enterprise masquerading as a financial service provider.

In his ruling, Judge Le Grange wrote: “On a conspectus of all the evidence, I am…

“This government is not only thick-skinned like a rhinoceros, but also blind, mute, and deaf. The pain of farmers doesn’t exist for them. This BJP alliance government is anti-farmer. Why can’t Devendra Fadnavis, Eknath Shinde, and Ajit Pawar pick up a pen to sign off on a loan waiver for farmers?” he remarked.

DraftKings will ban the use of credit cards for sportsbook and online casino deposits in the United States beginning August 25, 2025. The Boston-based operator announced the decision on Thursday, saying the change is designed to protect customers from “cash advance fees and higher interest rates” tied to credit card funding.

The move comes just weeks after the Massachusetts Gaming Commission fined DraftKings $450,000 for allowing customers to deposit with credit cards in the state, where such transactions are prohibited by law.

Why DraftKings Is Banning Credit Cards

A DraftKings spokesperson told SBC Americas that the company has made a “strategic business decision” to eliminate credit card funding. Customers will…