Supplier seeks to stop Tongaat Hulett sale
Powertrans Sales and Services claims that Vision Consortium cannot save embattled sugar producer
30 January 2024 - 05:00
A supplier is asking the high court in Durban for an urgent interdict to stop Vision Consortium’s purchase of Tongaat Hulett, arguing that it cannot save the embattled producer, which could still go bust.
Powertrans Sales and Services and its owner Mohini Naidoo claim that the Tongaat purchase was conducted in such a way that it will lead to a slow but inevitable liquidation, and ultimately the SA division will collapse, leaving thousands of rural farmers without livelihoods. ..
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