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Latest News: Tongaat Hulett Ltd.TONGAAT [TON]
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Thu, 18 Jun 2026	Official Announcement [TZ]
Tongaat - liquidation application withdrawn The Durban High Court granted the Joint Business Rescue Practitioners ("BRPs") permission to withdraw the provisional liquidation application against Tongaat Hulett on 17 June 2026. This follows significant progress in securing binding funding commitments, including an extension of the Post-Commencement Finance facility by the Industrial Development Corporation of South Africa Ltd. to 30 September 2026, and the conclusion of a binding Heads of Agreement with IDC and Vision to implement the Business Rescue Plan. The BRPs believe there is a reasonable prospect for THL’s rescue and are committed to working with stakeholders to finalise the transaction. The counter-application by RGS to set aside the Business Rescue Plan will be heard on 18 June 2026. All proceedings are accessible via live stream.
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