High court reverses African Global Operation liquidation

African Global Operations, formerly Bosasa, has been denied voluntary liquidation. Picture: 123RF/ANDRIY POPOV

The court set aside the decision taken by six directors of African Global Operations, formerly known as Bosasa, on February 12 to place the group of companies into voluntary liquidation. The company had also sought an order that Cloete Murray and Ralph Lutchman had no rights as provisional liquidators, nor as liquidators in respect of the companies.

The directors of the various companies need a solution following the closure of their bank accounts following allegations of state capture leveled against the companies. The closure of the accounts means they will not be able to pay their employees and suppliers, or receive payment for services rendered.Murray, one of the liquidators, told eNCA on Thursday afternoon that his legal team had still to read the judgment.

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