Sugar industry hopes to finally see outstanding Tongaat levies

  • 📰 Moneyweb
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 77%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

The company was denied leave to appeal against a December judgment that it must honour R526m in payments.

SA Canegrowers welcomes the Durban High Court judgment handed down on Monday, which confirmed that outstanding levies are due to be paid by Tongaat Hulett to the sugar industry, the body said in a statement on Wednesday.

Judge Rashid Vahed confirmed on Monday that the Sugar Industry Agreement is statutory legislation, and payments due under it still need to be made during the business rescue process, which suspends many other payments.“These levies are essential to the economic survival of sugarcane farmers and the tens of thousands of livelihoods that they support,” the Canegrowers Association said.

Tongaat Hulett must, therefore, honour its financial obligations under the agreement, which the new owners agreed to pay the industry, including growers, when the court battle ends.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 5. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인