Tag: corporate business rescue
In a case filed by South Africa’s opposition party, Finance minister Tito Mboweni has denied that government will use state funds to rescue South African Airways. Furthermore, the preconditions needed for the rescue plan to be implemented needs to be approved by all parties by midnight today and if there is no acceptance a further amendment of the plan will take place on Friday. George Nell, Senior Business Rescue Practitioner at Corporate Business Rescue joins CNBC Africa for more.
Embattled state owned carrier South African Airways continues to see grey skies as its business rescue plans have been pushed back countless of times in the past six months, as well as recently being criticised by the courts for not making meaningful progress. Joining CNBC Africa for more on SAA’s business rescue is George Nel, Senior Business Rescue Practitioner at Corporate Business Rescue.