Vision Investments, which is in the process of buying troubled sugar maker Tongaat Hulett, has opened a fraud case against losing bidder RGS of having submitted a forged bank letter claiming it had R2bn to buy the company.
RCL Foods has filed another urgent interdict to stop a meeting scheduled for Wednesday to vote on Tongaat Hulett's rescue plans, citing an “unlawful” revised plan by one of the bidders for the ailing sugar group.
JSE-listed food producer RCL Foods, which on Friday filed an application to interdict one of Tongaat Hulett’s revised rescue plans from being voted on at a meeting on Wednesday, said on Sunday it will withdraw its court case. This follows an agreement with the business rescue practitioners (BRPs) to tweak the plan.