Gupta company's attempt to remove Tegeta business rescue practitioners shot down by Supreme Court

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

According to a judgment delivered on Friday, in February 2018, eight companies in the Oakbay Group were placed in voluntary business rescue after the four major SA banks decided to terminate their banking facilities.

Oakbay had gone to the Supreme Court after it unsuccessfully went to the high court in Pretoria in 2019, where it argued that the BRPs were conflicted and biased. After argument heard on May 11, the Supreme Court agreed with the high court's assessment, and dismissed Oakbay's appeal.ebruary 2018, eight companies in the Oakbay Group were placed in voluntary business rescue after the four major SA banks decided to terminate their banking facilities.

“These appointments were said by Oakbay to give rise to a conflict of interest between their duties in relation to Tegeta and their duties, principally in relation to OCM, but generally to all three subsidiaries,” the judgment read.

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:

 /  🏆 13. in NG
 

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

The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of MarilynCamp51 I've been earning $20,000 weekly I've never regretted this decision.....

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines