Home Business and Technology Airlink loses bid to stop SAA meeting

Airlink loses bid to stop SAA meeting

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SAA

An application by Airlink to stop SAA creditors from conducting a meeting has been struck off the roll due to lack of urgency. The creditors are set to adopt the business rescue plan during a meeting set for Thursday.

The privately-owned airline approached the courts suggesting that the business rescue plan doesn’t represent a viable SAA.

SAA

The meeting will now go on as planned. Meanwhile, Airlink has been ordered to pay the legal costs for Numsa, Sacca, the Pilots Association and the Department of Public Enterprises.

A total of 75 percent of the creditors will need to vote in favour if the business rescue plan is to be adopted and implemented.

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Source: eNCA