The BEE partners in a subsidiary of Tubular Technical Construction (TTC) applied for provisional liquidation of the company after it failed to honour an agreement to pay R24 million in outstanding dividends. TTC had paid R11 million out of an agreed R35 million, but had fallen into arrears to the tune of R8.45 million, according to papers filed in the Pretoria High Court.
This adds to the Tubular group of companies lengthening list of worries. As Moneyweb previously reported, Tubular and associated companies are accused of paying bribes of R60 million into the bank account of Hlakudi Translations and Interpretation CC, owned by France Hlakudi, Eskoms senior contracts manager of both the Kusile and Medupi power stations. He resigned sh…
Read the full article at: https://www.moneyweb.co.za/in-depth/investigations/bee-partners-apply-for-liquidation-of-tubular-technical-construction-after-failure-to-pay-r35m-in-dividends/