A cash settlement with former Gupta business associate’s Templar Capital and Liberty Coal has the backing of creditors, labour and business rescuers. A cash settlement with former Gupta business associates Templar Capital and Liberty Coal has the backing of creditors, labour and business rescue.
The Industrial Development Corporation has signed off on a payment from an unfamiliar third party, and is banking on court order for guarantees against losses it may suffer should law enforcement try to seize the money once it lands.
Gupta mine fights R31m municipal rates bill iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Suspicion over source of funds causes the IDC to dig in its heels over R300-million payment offer from Oakbay Resources, even though lawyers are adamant the cash is kosher and not the proceeds of crime.