WHAT!! High Court ‘Reverses’ Bosasa’s Voluntary Liquidation

WHAT!! High Court 'Reverses' Bosasa's Voluntary Liquidation - Surge Zirc SA
Bosasa CEO and Jacob Zuma / Photo file: screengrab

The biggest drama associated to the Bosasa liquidation has just played out as a Gauteng High Court Judge in Johannesburg declares the Bosasa board resolution to go into voluntary liquidation null and void.

This also means that all of it liquidators must be warming up now to return everything of the company that belongs to them. Meanwhile, the court gave only 12 hours for the liquidators to surrender control of the company back to its directors.

READ MORE: FNB, Absa Are Shutting Down Bosasa Bank Accounts

Bosasa liquidator Cloete Murray had on Friday taken charge at the company’s headquarters in Krugersdorp following the company’s voluntary liquidation.

On February 12 2019, the company’s board voluntarily placed the company under liquidation. Thereafter, liquidators Cloete Murray, Ralph Lutchman and Tania Oosthuizen and some others were appointed to take over the activities of the company.

Source: Twitter

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