Grindrod Bank, the business-focused lender that was bought by African Bank for R1.5 billion in 2022, has been caught up in a legal dispute that could put it on the hook for more than R204 million.
High court papers show that the joint liquidators of a company called Nat Industries, which committed serious fraud, are trying to hold Grindrod Bank liable for some R100 million in liabilities incurred by the fraudulent company.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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