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Basil Read placed under business rescue

Basil Read's Construction division has for some time been experiencing cash flow difficulties emanating from, amongst other reasons, mismatched cash inflows and cash outflows.

Tegeta offer for Optimum Coal considered only credible bid

Optimum Coal Holdings business rescue practitioners (BRP) have issued a statement confirming that Endulwini Mining did make a R1.5 billion purchase offer for Optimum mine last year but only Tegeta’s offer was considered credible. The...

Evraz Highveld-linked companies seek to declare business rescue plan invalid

Evraz Highveld Steel and Vanadium-linked companies East Metals and Mastercroft instituted court proceedings against Highveld, the joint business rescue practitioners of Highveld and several other affected persons of Highveld. East Metals and Mastercroft have approached...

Optimum coal mine resumes coal supply to Hendrina power station

Eskom and the business rescue practitioners for Optimum coal mine have agreed to commence negotiations regarding the coal supply agreement between the two companies. The business rescue practitioners have agreed that Optimum coal mine will...

Evraz Highveld Steel and Vanadium to reveal preferred bidder this week

Evraz Highveld Steel and Vanadium, the vertically integrated steel and vanadium slag producer, is edging closer to announcing the preferred bidder in the sales process of its Mapochs mine, which is currently under business...

Optimum Coal business rescue practitioners suspend Eskom coal supply agreement

Joint business rescue practitioners, Piers Marsden and Peter van den Steen on Thursday informed Eskom that they have suspended the coal supply agreement with Glencore's Optimum coal mine for the duration of the business...

Evraz Higveld may sell Mapochs mine as part of its business rescue plan

Integrated steel and vanadium slag producer Evraz Highveld Steel and Vanadium is seeking to sell its Mapochs mine for R10 millon as part of its business rescue proceedings to facilitate the rescue of the...

Evraz Highveld Steel and Vanadium to cut its workforce by half

Evraz Highveld Steel and Vanadium, the vertically integrated steel and vanadium slag producer, on Tuesday issued a proposed restructuring notice in terms of Section 189, which could see it reduce its workforce by approximately...

Evraz Highveld Steel and Vanadium in legal dispute with Sasfin Bank

Evraz Highveld Steel and Vanadium, the vertically integrated steel and vanadium slag producer, has launched an urgent High Court application against financial services provider Sasfin Bank. Evraz said in a statement on Monday that in...

Evraz Highveld Steel and Vanadium start voluntary business rescue

South Africa – Evraz Highveld Steel and Vanadium, on Tuesday (14 April 2015) announced that it has commenced voluntary business rescue proceedings in terms of section 129 of the Companies Act. The company said that...

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