Liquidators appealing Bosasa ruling

South African banks have dumped African Global Group, formerly known as Bosasa Operations.

File:  On Thursday, the South Gaquteng High Court ordered that the provisional liquidators surrender control of the company back to its directors.

eNCA

JOHANNESBURG - Bosasa's liquidators are appealing a South Gauteng High Court decision halting the voluntary liquidation. 

Bosasa initially filed for liquidation, but then backtracked on its decision.

The court ordered on Thursday that the provisional liquidators surrender control of the company, within 12 hours.

The utility management company has faced a number of allegations emanating from the State Capture Inquiry.

In February, FNB and Absa announced they would be closing the company's bank accounts.

Source
eNCA