BUSINESS MAVERICK: NEWSFLASH: SA Express placed under provisional liquidation

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BUSINESS MAVERICK: NEWSFLASH: SA Express placed under provisional liquidation By Ray Mahlaka RayMahlaka

The High Court in Johannesburg granted an order on Tuesday 28 April 2020 for the provisional liquidation of SA Express, the state-owned airline that was placed under businesses rescue by the same court on 6 February.

The Department of Public Enterprises , which oversees the operations of SA Express as its sole shareholder, did not oppose the provisional liquidation application. liquidator can be appointed to safeguard SA Express assets and not assess claims against the company by creditors until the final liquidation of the airline is ordered by the court.Twala called all affected SA Express parties to put forward their reasons or show good cause on why the court should not order the final liquidation of the airline. A hearing for the possible final liquidation of SA Express is expected in June.

 

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