Shareholders challenge Group Five’s guarantee of a bridging loan
Group of stockholders want copy of resolution providing authority for the guarantee
09 September 2019 - 05:05
Lawyers representing Group Five shareholders have challenged the legality of the company’s guarantee of a R650m bridging loan for a subsidiary.
When the troubled construction and engineering group went into business rescue in March 2019, the R650m bridge loan to subsidiary Group Five Construction, from a consortium of unnamed local banks, was in default...
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