Thousands of jobs and the future of one of the province’s most significant agribusinesses remain in limbo after the provisional liquidation application for Tongaat Hulett was postponed in the KZN High Court last Friday.

The matter was adjourned after applicants and respondents failed to agree on dates for the hearing. The High Court in Durban has since issued a structured timetable to guide the next steps in the case.

The joint Business Rescue Practitioners (BRPs) said the application was lodged on February 20 after binding financing arrangements between Vision Group and the Industrial Development Corporation (IDC) were not concluded.

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As a result, the sale agreements lapsed and the adopted business rescue plan could not be carried out. In terms of Section 141(2) of the Companies Act, the BRPs were therefore legally obliged to refer the matter to court.

Since filing the application, several parties have submitted notices of intention to oppose or intervene, supported by extensive affidavits.

“The Court found that the matter was not ready for determination and has consequently ordered an adjournment to a date to be set by the Judge President,” the BRPs said in a statement.

Tongaat Hulett remains under business rescue and continues operating under the supervision of the BRPs while the legal process unfolds.

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Attention now turns to short-term funding. The BRPs and management say they are confident that funding will be secured for the upcoming salary run on March 25, with support from secured creditors.

For growers and employees, the postponement provides temporary relief but prolongs uncertainty.

Pratish Sharma, director of the South African Cane Growers Association and chairman of the Maidstone Local Grower Council, said the delay allows parties more time to properly formulate their arguments.

“This is an extremely complex matter and therefore should not be rushed,” he said.

He added that government support would be necessary to fund the court process.

“We urgently require some assurance from the government to provide funding to continue under business rescue while the battle for the assets takes place in court,” said Sharma.

The adjournment means the fate of the embattled sugar producer, and the livelihoods linked to it, will now depend on the outcome of the upcoming court proceedings.

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