JOHANNESBURG – The South Gauteng High Court has ruled in Bosasa’s favour in halting its voluntary liquation.
Last month, the company, now known as African Global Operations applied for voluntary liquidation.
The company backtracked on its decision to file for liquation.
EXCLUSIVE: SA banks ditch Bosasa
The court ordered that provisional liquidators surrender control of the company back to its directors 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.