SA Express Placed Under Provisional Liquidation
Article by Khanyi Moshia
State-owned airline SA Express faced the possibility of liquidation when business rescue practitioners filed an urgent court application to have the airline liquidated.
The matter was heard earlier today over zoom, and the High Court in Johannesburg has placed the airline under provisional liquidation. What this means is, all affected parities still have time to say why the Judge should NOT order a final liquidation.
The state-owned airline hasn’t been to pay its employees for March and most of April. With the nationwide lockdown and travel restrictions in place, the airline was suffering even more – and their only lifeline was the UIF Covid19 relief fund, which was approached to assist pay employees.
The airline was also placed into business rescue in February, unfortunately the rescue practitioners failed to secure funding from government.
Advocate Cassim arguing for BRPs says the regulation allows for the application to be served on parties affected not by Sheriff but by any other means. #SAExpress pic.twitter.com/IkyIxqgmfP— Heidi Giokos (@HeidiGiokos) April 28, 2020
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