PRETORIA - Bosasa has told the High Court that its board was ill-advised when it resolved to enter into voluntary liquidation, adding the meeting at which the decision was taken was not lawfully constituted.
The decision to liquidate was taken last month after banks announced that they would close the company’s accounts at the end of last month, citing reputational risk. Bosasa’s counsel advocate Mike Hellens told the High Court that the meeting at which the decision to sign the liquidation resolution was held was not properly convened as stipulated in the Companies Act.
He said all the parties were present and the documents were passed around for all to sign where their names appeared. Hellens said the attorney they’d hired did not take the directors through the documentation and the directors just signed without reading them.The application is being opposed.
One needs to look at the employees that are going to loose their jobs! The company I used to work for went bankruptcy and we lost our jobs. Been 10 months and I can't find any other job now. Isn't any other way to fix this?
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Source: TheCitizen_News - 🏆 6. / 75 Read more »
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Source: SowetanLIVE - 🏆 13. / 63 Read more »
Maimane claims Ramaphosa has something to hide over son's Bosasa earnings | IOL NewsPresident Cyril Ramaphosa's refusal to disclose the fee Bosasa paid his son, Andile Ramaphosa, for advisory services, showed ...
Source: IOL - 🏆 46. / 51 Read more »
There is nothing to hide about Bosasa and my son - Ramaphosa | IOL NewsPresident Cyril Ramaphosa refused to be drawn on his son's previous business dealings with African Global Operations as he answered questions in the National Assembly. RamaphosaQandA this is the same Duduzani and Jacob situation. Y don't they treat it the same?
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