News Formal

Group Five provides first report on rescue plan | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Group Five provides first report on rescue plan

CAPE TOWN - Group Five said yesterday it had provided stakeholders with the first report on the status of the company’s business rescue proceedings and it needed to further extend the date for the publication of a business rescue plan.

Group Five became the latest of the large construction groups to hit financial difficulties when it was placed in business rescue on March 11, 2019. They said that since their appointment they had met with the creditors, but no creditors committee was formed. A business rescue plan was meant to be published on April 16 - required within 25 days from the date of the appointment of business rescue practitioners - but an extension from the creditors to June 28 was obtained.

Lake and Van de Steen said they would approach creditors for approval to extend the date for publication in due course.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 46. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Business Maverick: June 13: Five Things You Need to Know to Start Your DayHong Kong’s Carrie Lam urges a return to order after protests but refused to pull bill. Asia equity futures are pointing lower after U.S tech stocks led a stock slump. And India plans to launch a lunar mission by July 15. Here are some of the things people in markets are talking about today.
Källa: dailymaverick - 🏆 3. / 84 Läs mer »