Carin Smith
The third and last payment in terms of a receivership created to house the “legacy debt” still owed to SAA creditors is due in August. The receivership, a special purpose legal entity, was created to house SAA’s legacy debt separately so that the airline could exit business rescue. The airline and its shareholder, the department of public enterprises, confirmed that R1.5bn of the original R3.5bn of “legacy debt” left when SAA exited business rescue in April 2021, is still outstanding. ..If you have already registered or subscribed, please sign in to continue.
Source: Loan Digest (loandigest.net)
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