Park Village Auctions selling off Bosasa assets in Krugersdorp on December 4 2019. File picture: SUNDAY TIMES/THAPELO MOREBUDI
The directors of African Global Holdings and two Bosasa companies — Sun Worx and Kgwerano Financial Services — had gone to court in December 2019 to stop the sale of assets of Bosasa that happened by public auction from December 4-6 2019.It held that the liquidators were legally prevented from proceeding with the auction and any subsequent sales of the Bosasa assets, due to the business rescue application having been “made” on December 3 2019, before the auction.
The findings prompted the bankers of African Global Operations to indicate that they would be withdrawing the company’s banking facilities and closing the banking accounts.
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ANC heavyweights face scrutiny over Bosasa ‘benefits’ after court rulingThe provisional liquidators of African Global Operations, formerly Bosasa, have scored a legal victory, with the Supreme Court of Appeal ruling, effectively, that the liquidation of six companies which scored unlawful contracts from the state can go ahead. I'm really grateful for all the efforts you have render to me with my little investment of $7000 and with joy over me after withdrawing $70,000 with your help Williamchurch07 thank you for everything you have done for me and my family Williamchurch07
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ANC heavyweights face scrutiny over Bosasa ‘benefits’ after court rulingThe provisional liquidators of African Global Operations, formerly Bosasa, have scored a legal victory, with the Supreme Court of Appeal ruling, effectively, that the liquidation of six companies which scored unlawful contracts from the state can go ahead.
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