ANCYL gets?breather

2014-01-28 00:00

THE ANC Youth League (ANCYL) has until March before it may be finally liquidated.

This comes after another creditor asked a court to declare the ANCYL bankrupt. In November last year the South Gauteng High Court provisionally liquidated ANCYL because the league owed millions to Z2 Presentations. The deadline to apply for final liquidation was yesterday, but the court postponed it.

The reason for the postponement is because Palanquin Hospitality Management had brought an application to be added as an additional plaintiff with Z2 Presentations in the liquidation application.

Judge Boissie Mbha postponed the case to March 24, when he will hear the new application as well as the application for final liquidation.

ANCYL spokesperson Dr Bandile Masuku said the league knows it owes the money and it would settle the debt. Masuku said laws that were only applicable to bankrupt companies had been used to provisionally liquidate the league.

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