Sugar levy payment could sink Tongaat Hulett rescue
Court told failure would be catastrophic for industry, including its workers and 23,000 sugar cane farmers
07 May 2023 - 17:38
The business rescue practitioners of sugar producer Tongaat Hulett say in court papers that being forced to pay sugar levies could undermine its business rescue process and such a failure would be “catastrophic” for the whole industry including its employees and 23,000 sugar farmers.
Tongaat, which owes at least R10.2bn to creditors, has filed lengthy papers asking the Durban high court to rule that it does not have to pay R1.4bn in outstanding levies to the SA Sugar Association...
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