Future Of Corruption Accused Bosasa Set To Be Decided By Supreme Court Of Appeal

  |   Sanews

The future of corruption-accused facilities management and security company Bosasa is set to be decided by the Supreme Court of Appeal (SCA).

Liquidators appointed to wind up Bosasa, now named African Global Operations, and its subsidiaries have taken their fight to keep the Krugersdorp group under liquidation to the SCA in Bloemfontein.

Arguments are expected to be heard on Friday.

Ralph Lutchman, Tania Oosthuizen and Cloete Murray were appointed as the liquidators of Bosasa and 14 of its subsidiaries in February this year.

Bosasa's board of directors, led by the now late Gavin Watson, filed an urgent high court application in March this year seeking to have the resolutions adopted by the board declared null and void.

Bosasa's board, represented by advocate Mike Hellens SC, further argued before the high court that Bosasa was solvent - the only issue being a notice served by the banks informing Bosasa Operations, the main holding company, of their intention to close the company's bank accounts.

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