DURBAN - After 134 years, Tongaat Hulett is on the brink of liquidation.
In court, it was made clear that a R200-million funding boost may not be enough to resolve.
RGS Consortium is pushing for the liquidation to take place.
They say Vision’s proposal relies on the IDC to fund the entire deal and bankroll a new business using Tongaat’s assets.
Simply put, the rescue depends on funding that doesn’t exist.