STA Travel closure: Consumers paid last when company becomes insolvent, says NCC

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 53%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

STA Travel closure: Consumers paid last when company becomes insolvent, says NCC STATravel

JOHANNESBURG – The sudden closure of STA Travel South Africa left customers wanting refunds for their cancelled holiday bookings.Many consumers have been left wondering if they would be reimbursed.

The National Consumer Commission 's Joseph Selolo said consumers were usually the last to be paid on a hierarchy of creditors when a company is liquidated.“This is one of the most complicated cases one would have to deal with. I really sympathise with the consumers.” Selolo said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

STREET DOGS: Grandpa stocks and the growth rageWe are so ready for the new world that we don’t want to pay much attention to the old companies
Source: BDliveSA - 🏆 12. / 63 Read more »