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Owed R60m by the Free State govt, Sanyati is to be liquidated

According to Fin24, one of the government's major private partners, civil engineering and construction firm Sanyati, which is owed R60m by the Free State provincial government is to be liquidated.

12 Jul 2012

Fin24 reports that Trevor Murgatroyd - the business rescue practitioner appointed by Sanyati Holdings [JSE:SAN] recommended the company's liquidation on Tuesday, after Sanyati's rescue plan collapsed.

On Friday, President Jacob Zuma said the government would take drastic measures to ensure service providers were paid within a month. Presidency spokesperson Harold Maloka said a national intervention team led by the Treasury was looking at the Free State roads department, says Fin24.

Read the full article on www.fin24.com

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