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%

France Nouvelles Nouvelles

France Dernières Nouvelles,France Actualités

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. .

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

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!🥰👌

France Dernières Nouvelles, France Actualités