More woes for Group Five as auditor resigns

2019-07-03 15:34

Group Five's external auditor PwC has resigned from the construction company, which is in business rescue.

Group Five is still in trouble, but it will finish the Nelspruit High Court, a Stellenbosch University addition, and water projects for Pretoria and Durban anyway

2019-06-13 14:32

Group Five's business rescuers say they secured the money to finish some projects, including the giant Temba water purification plant for Tshwane and a sewage pumping scheme for eThekwini.

Group Five budgets for R233m in retrenchment pay as it enters business rescue

2019-03-15 10:44

The engineering and construction group has entered a form of bankruptcy protection known as business rescue and had its stock suspended from trading on the JSE.

Gupta-linked company 'fabricated agreement' to dodge liquidation

2018-11-28 16:40

Business rescue practitioners for Tegeta Resources and Exploration want Oakbay Investments liquidated to settle unpaid rent.

Esor Construction files for business rescue

2018-08-13 22:29

Esor Construction, a subsidiary of Esor, has applied for business rescue, citing financial distress amid challenges to the construction sector.

A decade ago, Basil Read was SA’s top company. It has just gone bust.

2018-06-15 17:18

Founded in 1952, the company was involved in some of the key roads and infrastructure projects in SA.

DMR to meet with Tegeta rescue practitioners

2018-05-30 20:49

The Department of Mineral Resources has told Parliament that it would meet with the business rescue practitioners in charge of Tegeta’s mining operations next week.

A great cuppa tea

2018-05-13 06:00

The business rescue of the Magwa and Majola tea estates in Eastern Cape is proving to be successful, with their blend exported widely.

Court gives Gupta rescuers green light, again

2018-05-06 06:03

A group of eight Gupta company executives has again been denied leave to appeal against a high court ruling giving business rescuers access to the family’s Sandton head office.

‘Urgent’ Optimum application struck off the court roll

2018-04-15 06:00

An urgent application this week to halt the Optimum business rescue practitioners from appointing a management company to get involved in running the coal mine was struck off the court roll.


Group Five insists business rescue plan on track

2019-06-20 20:41

Group Five is seeking an extension for the publication date of its business rescue plan, as it insists that the process "remains on track".

Once proud construction company Group 5 says a fire sale of its assets is now the only option

2019-04-12 16:20

Group Five's business-rescue controllers say there is no other way left to save the company other than to sell "a number of different assets" – fast.

Gupta's SA mining assets attract R3.05bn bid

2018-12-13 07:29

A South African consortium called Project Halo has submitted the winning bid of R3.05bn for three major assets of a Gupta family-linked mining company.

Charles King SA court bid to halt Gupta mine sales dismissed

2018-09-28 15:17

An urgent court bid by Swiss-based company Charles King SA to stop business rescue practitioners from selling Gupta-owned Optimum and Koornfontein mines has been struck off the court roll.

Lily, Barbrook mines hit by infighting

2018-07-01 06:01

The creditors’ committee doubts the new owners have the money to do the job, and wants proof.

EXCLUSIVE: Gupta lieutenant Salim Essa in last gasp R70m bid to 'save' VR Laser

2018-06-14 09:16

The offer came minutes before creditors for the Boksburg-based engineering company were about to vote for liquidation.

Staff of Gupta-linked auditor Nkonki fight closure

2018-05-16 17:35

Employees at SA audit firm Nkonki have applied to court to block the company’s liquidation and have it put into administration instead.

Charles King deal for Gupta-linked Optimum 'a farce', says business rescue practitioner

2018-05-10 14:30

Swiss company Charles King wants the business rescue practitioners of the Gupta-linked Optimum coal mine to recognise a sale agreement it had entered into.

Eskom to bail out Gupta mine

2018-04-29 06:00

The plan would involve Eskom paying Optimum more than twice the price of coal and getting half the tonnage.

Gupta execs in ‘turf war’ with rescuers

2018-04-15 06:00

The business rescue practitioners of eight Gupta companies has won a court order against executives who were trying to control their access to the family’s corporate headquarters – the Sandton offices of Oakbay Investments.

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