Reversal of strategic oil sale will be costly for the government
The high court awards compensation to the buyers, including for hedging losses, interest earned and storage costs
20 November 2020 - 17:55
UPDATED 22 November 2020 - 17:14
The high court in Cape Town on Friday reversed the infamous sale of SA’s entire strategic fuel stock by corrupt officials in 2015 and also awarded compensation to the buyers, including for hedging losses, which will be costly to the state.
The state must also pay the costs of the trading entities involved in the litigation and the multiple counsels employed by each...
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