The SA Airlink litigation seeks to have SAA placed under liquidation. The company also wants to halt the covering of a creditors meeting vote on the business rescue plan for SAA.
Johannesburg - The Department of Public Enterprises says it will oppose possible court applications by SA Airlink and aviation unions which seek to halt South African Airways Business Rescue Practitioners from convening a creditors meeting scheduled for Thursday.
SA Airlink believes there is no reasonable prospect in rescuing SAA.DPE said it was not cited as a respondent in the SA Airlink application but as a shareholder at SAA if felt it necessary to intervene in the matter. The department said it will oppose the application on both fronts, for liquidating SAA and for halting the creditors meeting."The BRPs have scheduled a creditors meeting for 25 June 2020 to vote on the business rescue plan.
"The government, as the sole shareholder of SAA, supports the business rescue plan where it results in a viable, sustainable, competitive airline that provides integrated domestic, regional and international flight services."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'I was totally unaware the video was on': Public works official on attending online meeting toplessChristopher Mulaudzi attended last week's virtual public works portfolio committee meeting while topless in bed.
Read more »
Public protector office in restructuring drive to save costsThe new structure will cut the number of unfunded posts by 125 and save R48m
Read more »
The Covid-19 crisis has exposed the raw realities of South Africa’s under-resourced public schools
Read more »
Edcon creditors launch last-minute court bid to halt business rescue talksA group of Edcon creditors have launched an 11th-hour high court application to halt two meetings on Monday at which a business rescue plan was due to be discussed and adopted.
Read more »
Edcon creditors launch last-minute court bid to halt business rescue talksA group of Edcon creditors have launched an 11th-hour high court application to halt two meetings on Monday at which a business rescue plan was due to be discussed and adopted.
Read more »
Business for SA warns SA will need foreign capital to fund budgetFunds raised outside the domestic market significantly heighten risk of a sovereign debt crisis
Read more »