Provisional liquidation of Tongaat Hulett withdrawn in court as new agreement reached

Tongaat Hulett, gets a lifeline

The provisional liquidation application of Tongaat Hulett Limited (THL) has been withdrawn in the Durban High Court.

In a statement, the joint Business Rescue Practitioners (BRPs) of THL said the court granted them leave to withdraw the application they said they brought as a “last resort”.

The BRPs said this come after recent substantial progress between Vision and the Industrial Development Corporation (IDC) towards the implementation of the adopted Business Rescue Plan.

The statement said the IDC has agreed to extend Tongaat Hulett’s PCF facility to September 2026, providing continued liquidity to support the company's operations while implementation of the business rescue transaction proceeds.