Tongaat says R450m civil claims lawsuit faces one-year delay

Tongaat Hulett shareholders received another setback on Tuesday after the agribusiness company said it would take another year before a court would hear its R450m civil claims lawsuit against former directors implicated in an accounting scandal.

Tongaat expects full trials to only begin in early 2023 due mainly to legal objections on “highly technical” grounds, adding it remains determined to secure a fair outcome for shareholders...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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