Eskom to this month pursue liquidation of Trillian over R600 million payment

2020-03-05 10:48

The power utility says it will institute liquidation proceedings against Trillian Management Consulting and Trillian Capital Partners in the North Gauteng High Court later this month.

SAA uncertainty: What you need to know if you have a ticket or intend to buy one

2020-01-21 08:15

A question frequently asked since South African Airways was placed into business rescue in December last year is what would happen if the embattled state-owned airline were liquidated.

PIC says liquidation bid against Sekunjalo Ind. Media 'strictly commercial' after Magashule, others, question motives

2019-12-05 11:09

The state asset manager was criticised by ANC secretary-general Ace Magashule for its liquidation application against the company which holds a majority stake in the Independent Media group.

Some municipalities struggling to deliver services after VBS losses, AG warns

2019-11-07 13:16

Fourteen municipalities that deposited R1.6bn in the ill-fated VBS Mutual Bank were unlikely to ever recover their money, the auditor general says.

Bell Pottinger partners are being forced to repay millions – but its last boss is reportedly fighting back

2019-10-23 21:56

Former bosses of the UK public relations firm closely tied to the Gupta family have promised to give back around R9 million to cover debts, but CEO James Henderson is apparently not cooperating with liquidators.

DA calls political VBS rescue plans "an attempt to keep looting"

2018-08-12 12:56

Sources close to the City Press said an ANC top six meeting discussed potentially converting VBS Mutual Bank into a provincial government bank as a way of saving it.

Former VBS boss only heard of ‘looting’ after it happened, advocate argues

2018-08-02 07:39

Intense arguments have been heard around whether or not Robert Madzonga, former VBS chief operations officer and group executive officer of Vele Investments, should be provisionally sequestrated.

VBS execs pulled off SA's 'biggest bank robbery', advocate tells court

2018-07-31 19:10

VBS Mutual Bank's executives have carried out the country's "biggest bank robbery" - and did so in designer suits - an advocate has claimed in the South Gauteng High Court.

BREAKING: Three VBS execs provisionally sequestrated, Vele liquidated

2018-07-31 11:50

Provisional sequestration orders have been granted against three businessman in the VBS Mutual Bank fraud saga, while Vele Investments, VBS's main shareholder, has also been liquidated.

Business as usual for franchisees after Melissa's liquidation

2018-05-30 06:13

Nothing will change for Melissa's food stores countrywide, as the concept will continue under different names and only the shops still owned by head office have been liquidated, a franchisee has told Fin24.


Development Bank says R3.5bn SAA loan may have saved airline from liquidation

2020-02-04 11:54

The Development Bank of Southern Africa's leadership tells Parliament the transaction falls within the scope of the bank's investment targets.

PIC hits back at 'irrational' allegations, says CEO appointment process is above board

2020-01-20 19:39

The Public Investment Corporation's board has denied claims made in a report that it is flouting due processes in its search for a new CEO.

VBS liquidator accepts claims from SARB, PIC and a few municipalities

2019-11-10 13:27

VBS liquidator Anoosh Rooplal will check accepted claims against bank records and adjust or expunge those found to have discrepancies or to be invalid.

VBS creditors can stake claims next month

2019-10-25 17:29

VBS Mutual Bank's liquidators will meet creditors of the ill-fated bank in November, where the latter can lodge claims on the estate of the bank.

Liquidations, insolvencies drop - but the news is mixed

2018-10-03 22:08

Liquidations and insolvencies have both decreased sharply year-on-year, despite an overall increase in liquidations in the first eight months of 2018.

Two more VBS execs provisionally sequestrated

2018-08-03 14:04

Two more VBS Mutual Bank executives have been provisionally sequestrated, bringing to five the total number of managers at the institution whose assets are now effectively on ice.

New 'Melissa's' shops will have cheaper food, this owner says

2018-08-01 10:32

A former Melissa's franchise holder believes high prices led to the group's bankruptcy.

VBS head's explanation of R15m bonus is ‘absurd’, court hears

2018-07-31 13:52

An explanation by VBS Mutual Bank's CEO about an alleged R15m bonus paid to him, which he says he earned for other reasons, has been described as absurd and bizarre by a legal representative.

CORRECTION: Mzwanele Manyi files for liquidation of ex-Gupta paper, not broadcaster

2018-07-17 08:56

Negative perception surrounding the newspaper formerly linked to the Gupta family led to its financial woes, court papers show.

Liquidations and insolvencies dip in April and March

2018-05-28 18:23

The number of liquidations in April 2018 decreased by 24.7%, compared to April 2017, says Statistics South Africa.

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