#CannesLions

Kenya and South Africa win big in social impact categories

Karabo Ledwaba

Hansa Pilsener and Joe Public go bronze in the Cannes sun

Kenya’s The Partnership Agency wins Bronze Lion

Karabo Ledwaba

More...

#YouthMonth

Walk in the footsteps of SA schoolchildren and get them school shoes

Danette Breitenbach

MDNtv Creative Arts Capacity Building Programme is creating jobs and giving young people purpose

Lungile Mkhize

How Tsundzukani Hlungwane is inspiring the next generation through conservation

Robin Fredericks

More #YouthMonth

Subscribe & Follow

Advertise your job vacancies

Jobs

Junior Structural Engineer Johannesburg
Warehouse Operations Supervisor Johannesburg
External Sales Representative (Exports) Vereeniging
Architectural Technologist Johannesburg

More jobs Submit a job Open account

Business rescue ruled out, ATE now seeks international investors

According to a defenceWeb report, Advanced Technologies and Engineering (ATE) board of directors is negotiating with a number of international investors from the aviation industry who are interested in investing in ATE. Such investments, the company said in a statement, would enable ATE to be restored to full health and make an offer to creditors, suppliers and stakeholders, "which will surpass the offer in the former so called business rescue plan to a significant and material degree."

19 Jun 2012

This follows a judgement by the North Gauteng High Court concerning ATE South Africa and its shareholders. ATE has not been allowed to implement business rescue proceedings to resuscitate the company. On June 6, the judgement declared that the resolution passed by ATE in September last year to commence Business Rescue Proceedings has lapsed and become a nullity (as if it never existed), and then in a statement ATE said that applications to appeal the judgement were dismissed on June 13, defenceWeb reports.

For more: