He said the court had ruled against the union, saying that Numsa’s application was premature and that “company which is under business rescue can only contemplate retrenchment in a statutory document known as a business rescue plan.”“The fact of the matter is that finding suited SAA in February. They then began a retrenchment process by a voluntary process and by consultation, but they are now bound by the same outcome that suited them three months earlier.
Redding said “a lot of criticism” had been directed at the BRPs relating to the issue of a 25-day cap on the publication of a rescue plan. He said the BRPs were given SAA to try to rescue, but throughout this process there had been an “inadequate amount of post-commencement finance that didn’t come”.