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RSS FeedsLiquidation blow for family firm
(World News South Africa)


10 august 2020 03:27:53

Liquidation blow for family firm
(World News South Africa)

Durban - The vultures are circling over a mega Durban-based family-run business that had a provisional liquidation order granted against it in court last week. In a month`s time, Crossmoor Transport will be required to show why that order cannot be made final, in lieu of the more R100 million it owed creditors, at the Pietermaritzburg High Court. This was yet another blow for the Naicker family who operated Crossmoor, as they were still reeling from the kidnapping of their sibling and financial director Sandra Munsamy. Munsamy was kidnapped in May 2019 while driving in Pinetown, west of Durban, and was eventually found six months later in Witbank, Mpumalanga. The matter of her abduction was...

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