PRETORIA – Bosasa’s board says it has made a big mistake after taking poor advice and not properly reading documents before signing them.
The decision was taken last month after the company's banks announced they would close their accounts, citing reputational risk. The board further claims that they were under pressure and the attorney they'd hired didn't fully explain what it was they were signing, adding he just placed documents in front of them and showed them were to make their mark.
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Court hears Bosasa directors ill-advised over liquidation decisionThe directors of the company, now known as African Global Holdings, have filed an urgent application at the High Court in Johannesburg to have the decision reviewed and set aside. 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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Bosasa changes its mind about liquidation, heads to courtThe company claims it only decided to voluntarily liquidate after receiving bad advice from a consultant. They're now ready for war...!! I wonder who gave them this 'right advise' now..!!
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Bosasa wants liquidators out of its companies, which it says are solventThe affairs of African Global Operations group of companies should not be under the care of the 'rampant activities' of liquidators who should not have been appointed in the first place.
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#Bosasa begins legal fight for liquidation reversal | IOL NewsControversial facilities management company Bosasa is heading to court where it will argue for the reversal of its own decision ...
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Uncertain future for Bosasa workers as liquidation process continues | Sunday IndependentThe future is uncertain for Bosasa workers as the company weighs its liquidation options after allegations of corruption surfaced at the Zondo Commission. From all the money made by that company, the commission should ensure that should the employees end up joblesa, that money gets shared amongst those employees, and all whats due for them Liquidate on what grounds? Stop insulting our intelligence and the right to have functional brains, you milked a bull and now crying foul, your solution is to starve the bull, these Busasa rascals should all be charged and should not be allowed to liquidate,
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