Covid-19 fallout no excuse to avoid liquidation, court rules

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Popular Vilakazi Street restaurant on the brink after bank calls in its debt

The financial fallout of Covid-19 lockdowns cannot be put forward as a basis to oppose liquidation applications, a Gauteng court has ruled.

A restaurant and bar in the tourist destination of Vilakazi Street in Soweto, Restaurant Vilakazi, has tried in vain to fend off a provisional liquidation launched by FNB over overdue debt...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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