Tongaat Hulett is seeking around R450 million in total claims as part of its civil court action against several implicated former executives as the once formidable JSE-listed sugar producer and land developer still tries to recover from the accounting scandal that brought the group to its knees three years ago.
It is anticipated that full trials will be scheduled for early 2023,” the group noted. Tongaat Hulett Company Secretary, Johann van Rooyen said, “While the process has been significantly delayed through the filing of a number of interlocutory objections on highly technical arguments by the defendants, Tongaat Hulett is determined to pursue this matter and do everything within its power to secure a fair outcome for [its] shareholders.
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