Pretoria – The attempted business rescue of RBA Holdings appears to have failed and the company is set to be liquidated.
Trevor Glaum, RBAs business rescue practitioner, confirmed on Tuesday that he would be applying to the Western Cape High Court today, or as soon as possible thereafter, to discontinue RBAs business rescue proceedings and to convert the proceedings into liquidation proceedings.
Glaum said he would be applying for RBA to be placed in final liquidation and to direct the master of the court to appoint provisional liquidators on an urgent basis.
He said a number of RBA directors had resigned, including Riaan Roos, Evita Nyandoro and Martin Nienaber.
RBA subsequently announced that Christine Glover, Ken Hopkins and Pieter …
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