How AutoZone built up its R300m Absa debt burden
Business rescue practitioners see hope as court grants Absa an order to seize control of assets
17 July 2024 - 05:00
The high court in Johannesburg has granted Absa an order to seize control of the assets of automotive parts retailer AutoZone due to the company’s inability to settle its outstanding debts.
This allows Absa to claim AutoZone’s movable assets under its general notarial bond. This means the bank can take and keep these assets as security...
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