Economic Innovation
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Research to results: Q&A with Ravini Moodley on scaling innovation in a constrained economy

From blombos to beyond: Celebrating South Africa’s zany DNA of innovation

Jacques Moolman

All systems go for this year's WC Economic Innovation Awards at the CT City Hall

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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.

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