Tongaat Hulett business rescue practitioners dump Kagera, submit new preferred bidders
Tongaat’s BRPs have released a new rescue plan, proposing to sell the business to new buyers as the proposal by Kagera – an unknown company from Tanzania – cannot be considered. Creditors have been invited to a pre-meeting proxy vote to determine the order in which the two plans will be considered at the formal meeting of creditors taking place on 8 December 2023.