Tongaat reaches R260m settlement with Deloitte, yet again delays rescue plan | Business

Tongaat Hulett's business rescue practitioners said on Thursday that the sugar company had reached a R260 million settlement with former auditors Deloitte, while they also want to delay the release of the business rescue plan by another four months amid a potential equity injection.

Deloitte charged Tongaat Hulett R299 million in fees over 11 years, during which time there were major misstatements in the company's annual finances that eventually led to the collapse of the company's share price.Deloitte itself has said it hasn't seen any evidence itself to support the criminal charges brought against its former partner who audited Tongaat Hulett.

"It is important to note that the publication of a rescue plan is only one step in a business rescue process," the statement read.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

BUDGET LIVE | Debt service costs to reach almost R400 billion in 2025 | BusinessWATCH LIVE | Finance Minister Enoch Godongwana presents the 2023 Budget. Follow it live on News24 Vokken budget is so stupid soos die ding se bril op daai plat neus 👃🏿
Источник: News24 - 🏆 4. / 80 Прочитайте больше »

Businesses must adapt go-to-market strategies for younger generations - IT-OnlineGenerational shifts are disrupting traditional business buying behaviours and necessitate re-evaluating go-to-market strategies, according to Forrester’s latest “Younger buyers have changed the business buying landscape” report, which adds that Millennials and Gen Z now constitute 64% of business buyers – with Millennials making up more than half of all business buyers. These younger buyers are […]
Источник: ITOnlineSA - 🏆 16. / 63 Прочитайте больше »

Apartheid Museum, business centres disconnected for City Power debtThe businesses owe millions in electricity debt but failed to make the outstanding payments despite receiving pre-disconnection notices.
Источник: TimesLIVE - 🏆 28. / 59 Прочитайте больше »

Business Maverick: Solar industry facing whiplash from volatile equipment pricesEven as solar power grows into one of the world’s largest sources of new energy, the industry behind it is facing unprecedented volatility as a battle for profits intensifies.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »

Business Maverick: Harnessing waste heat could save €67-billion for EuropeIndustries and transportation systems in Europe waste so much heat that capturing the excess and reusing it could save consumers more than €67-billion, a Danish engineering company said.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »