POWERTRANS, a creditor involved in the business rescue proceedings of embattled sugar company Tongaat Hulett Limited (THL), has approached the Durban High Court to have the adopted business rescue plan for THL set aside as invalid and unlawful.
This follows allegations concerning the failure of the business rescue practitioners (BRPs) to fulfil their fiduciary duties.
As part of its legal action, Powertrans has supplied evidence suggesting that the