Business Maverick: Troubled Tongaat says secures IDC funding to complete season and prepare for next year

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 84%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Troubled sugar producer Tongaat Hulett, which entered business rescue in October, has acquired 'post commencement finance' from the Industrial Development Corporation of South Africa (IDC). This will enable it to finish out the current season with seed ...

Troubled sugar producer Tongaat Hulett, which entered business rescue in October, has acquired"post commencement finance" from the Industrial Development Corporation of South Africa . This will enable it to finish out the current season with seed capital to prepare for the next while the business rescue proceedings unfold.

“Post commencement finance” or PCF “is finance or credit granted to a company in Business Rescue and is regulated by section 135 of the Companies Act,” according to the Business Rescue Exchange. . to make Post Commencement Finance more attractive to investors and financiers.” There has been nothing sweet about the Tongaat saga, which includes allegations of missgvernance and corporate malfeasance. Seven people, including six former Tongaat executives, appeared in the Durban Specialised Commercial Crimes Court early this year on fraud and racketeering charges linked to company land sales. .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Sometimes the smallest step in the right direction ends up being the biggest step of your life. Tip toe if you must, but you take the step with Cormick0Dave You sound have be among thoses crypto lovers so far they are many who have better understanding on how crypto works.

Just stop taxing sugar. 5 years on and people are still fat AF. Studies as showing that artificial sweeteners are much more damaging to humans than sugar. The human body knows what to so with sugar, doesn’t know what to do with artificial sweeteners.

I have benefited so much from her excellent trading technique shirley_ralphy Beginning this journey I started up with R1000, within few days I got a return of R8500. You should hit her up too She’s the best online manager you can be happy investing with!🥰👌

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in CA

Canada Canada Latest News, Canada Canada Headlines