LIQUIDATION
Nedbank has biggest exposure to Comair turbulence at R1.7bn
The bank, alongside Absa, which is owed R346m, will be first in line to get all or a portion of its money back as the airline winds down operations
15 June 2022 - 05:10
Nedbank stood out as the bank with the biggest exposure to Comair, amassing nearly half of the total of R4bn the airline owed to creditors when the airline filed a court application last week to wind down its operations and liquidate its assets.
In court papers as part of the provisional liquidation application, which was granted on Tuesday, business rescue practitioners put Nedbank at the top of the list with at least R1.7bn in money owed by Comair, whose collapse has triggered fears that ticket prices will skyrocket in an ailing economy that counts tourism as a bright sector...
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