South Africa News

Court rules Bosasa is commercially insolvent – report

The SCA ordered that the appeal by the liquidators should be upheld with costs. The Supreme Court of Appeal (SCA) reportedly ruled that African Global Operations, formerly known as Bosasa, is commercially insolvent and should be liquidated.

Bosasa went into voluntary liquidation in February this year following banks announcing that they would be closing all of the company’s accounts due to corruption allegations. They subsequently tried to reverse the liquidation.

DispatchLive reported that the ruling was a unanimous decision which was critical of the decision by the Gauteng High Court to hand back the company to its directors.

The SCA ordered that the appeal by the liquidators should be upheld with costs.

An advertisement on the website of liquidators Sechaba Trust, which is run by Cloete Murray, claimed that items including late Bosasa CEO Gavin Watson’s metallic blue BMW X5 would be going under the hammer along with numerous vehicles, office furniture, catering equipment, workshop and gardening tools, computer equipment, security equipment, office furniture, household furniture, and several properties.

The properties included the controversial Lindela Repatriation Centre, as well as the company’s head office and copper plant.

A viewing was advertised for December 3 from 9 am to 3 pm.

Since then, Park Village Auctions have also started advertising the auction, with a post going on Facebook about it at noon on Thursday.

In other news – Fans go crazy as Minnie Dlamini meets Chad Boseman – Watch

TV personality Minnie Dlamini-Jones hit the red carpet of the action thriller movie 21 Bridges in New York to interview the cast, which includes a fav, Black Panther actor Chadwick Boseman. Minnie shared her red carpet moment with the stars on Instagram, where Chadwick spoke about the importance of black people telling their stories.

Chadwick not only stars in the movie but also produced it. “It’s very important if you have the opportunity and the skill to bring films to the world that you’re doing, especially because we have to continue to push for our stories … push for representation in certain places.” continue reading

Source: The Citizen

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