Business rescue of SAA has been further prolonged after a dispute broke between government and the consortium of banks
The business rescue of SAA has been further prolonged after a dispute broke out between the government and the consortium of banks to which SAA owes money, on the eve of the finalisation of the rescue plan.
A guarantee confirmation letter to lenders stating when and how they will be repaid is one of the conditions necessary for the success of the rescue and was not met by the close of business on Thursday.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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