Overview
- The application for Tongaat Hulett’s provisional liquidation, brought by its business rescue practitioners, was delayed when applicants and respondents could not agree on hearing dates.
- The matter was heard via a virtual link, and costs of the postponement were reserved pending a new schedule.
- Judge Sanele Hlatshwayo recorded that the region’s Judge President, Thoba Poyo-Dlwati, will determine the date and that parties must agree whether the hearing proceeds virtually or in open court.
- Tongaat Hulett has been under business rescue since 2022, with reports estimating about R12 billion erased from its share value during the process.
- The liquidation push follows the collapse two weeks ago of a creditor‑approved sale to Vision Group, while unions in KwaZulu‑Natal, including Cosatu’s Edwin Mkhize, warn of severe job and value‑chain risks.