The Supreme Court of Appeal (SCA) has sounded a warning to all companies to take all liquidation proceedings seriously, even ones where they are not the company being liquidated.

Ilima, a construction company, was placed in liquidation in 2010 and, at the time, held shares in Strategic Partners Group (SPG). SPG is known for its work in the Gautrain Project. Ilima’s liquidators had to valuate Ilima’s SPG shares and distribute the proceeds to its creditors. ..

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