SA Airways' business rescue practitioners are in court with the government over impending retrenchments.SAA’s business rescue practitioners have received harsh criticism from Judge Dennis Davis for “faffing around” for six months.
“I have to tell you, I’ve been involved in these things since the beginning – I’ve never seen anything like this.” He said that in certain circumstances, in order to stabilise the business, BRPs may have to reduce staff immediately upon appointment. “I think what you are saying is, ‘I come in as a business rescue practitioner. I take over the temporary supervision of business and at that particular point in time I look around and I say to myself I can start retrenchment process immediately before I actually conceive of my business rescue plan.
Davis said the “whole idea of the investigation and the plan” is to “do precisely what the act intended, which is to investigate whether in fact you can save the business”.Advocate Tembeka Ngcukaitobi, representing Numsa and Sacca, said that in terms of the Companies Act, a business rescue plan should be completed within 25 days of appointing BRPs.
Setting out his argument that the appeal should be dismissed, Ngcukaitobi cited a February case where Numsa had approached the court to intervene after the BRPs began talking about reorganising routes, which they believed amounted to retrenchments.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
SAA business rescue practitioners 'faffing around' for six months: judgeSAA’s business rescue practitioners (BRPs) received harsh criticism from judge Dennis Davis for “faffing around” for six months during an appeal on Tuesday against a labour court ruling in May ordering them to halt planned retrenchments at the airline.
Sumber: SowetanLIVE - 🏆 13. / 63 Baca lebih lajut »
SAA business rescue practitioners 'faffing around' for six months: judgeSAA’s business rescue practitioners (BRPs) received harsh criticism from judge Dennis Davis for “faffing around” for six months during an appeal on Tuesday against a labour court ruling in May ordering them to halt planned retrenchments at the airline.
Sumber: TimesLIVE - 🏆 28. / 59 Baca lebih lajut »
Yoh! Judge rips SAA business rescue team for ‘faffing around’Judge Dennis Davis has lashed SAA’s business rescue practitioners for “faffing around” for six months.
Sumber: SundayTimesZA - 🏆 47. / 51 Baca lebih lajut »