In a month’s time, Crossmoor Transport will be required to show why that order cannot be made final, in lieu of the more R100 million it owed creditors, at the Pietermaritzburg High Court.
Her family’s business interests include Crossmoor Transport, a travel agency, and service industry provider of fuels and other bi-products. In a separate court matter, Engen Petroleum was granted a court order to recoup R50m in fuel debt owed by Xmoor Transport. This matter was filed in October last year while Absa brought its application in December 2019.
While the family would not divulge reasons that led to their financial woes, in its responding application it mentioned that Munsamy’s kidnapping contributed to its financial constraints.In the Absa matter, Crossmoor said it was unable to furnish its “But if the assets of a company do exceed the liabilities, mere illiquidity, capable of being overcome within a reasonable time, should be a trump card to resist liquidation.
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