As much as our bodies need to occasionally detox, we also need a mental and spiritual detox, writes Melanie Verwoerd.
Mostly sunny. Mild.
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 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 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 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.
A former Melissa's franchise holder believes high prices led to the group's bankruptcy.
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.
Negative perception surrounding the newspaper formerly linked to the Gupta family led to its financial woes, court papers show.
The number of liquidations in April 2018 decreased by 24.7%, compared to April 2017, says Statistics South Africa.
“The vultures are circling in."
SA Express intends to oppose an application for liquidation brought against it by a specialised commercial aviation company, the acting CEO tells Fin24.
Fourteen municipalities that deposited R1.6bn in the ill-fated VBS Mutual Bank were unlikely to ever recover their money, the auditor general says.
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.
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.
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 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.
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.
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.
The liquidation of Vantage Goldfields SA has been postponed for another two months – giving the new company owners a chance to convince creditors that they are ready to reopen two Mpumalanga mines.
The pullout of General Motors from South Africa has claimed its first casualty, with a supplier to the car maker being placed into provisional liquidation.
South Africa’s recycling tyre warfare has escalated, with Redisa saying it will fight a liquidation order.
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