Latest News & Developments
The Gauteng High Court has placed KleuterZone under provisional liquidation after investors raised alarm over a possible R130 million investment scheme. With over 1,300 investors affected and the company's founder reportedly fleeing South Africa, the preschool group's promise of 62. 4% annual returns has come under intense scrutiny.
Investors in the KleuterZone scheme headed by Anthonie Bougas, are calling for urgent court intervention following allegations of financial misconduct.
The Umkhonto Wesizwe Party on Monday held a protest against the South African Reserve Bank's Prudential Authority, urging protection for Ithala Bank amid liquidation threats.
Desiree Martin, a client of Banxso, has accused Pierre Du Toit of Mostert and Bosman of obstructing all efforts to recover funds from Banxso - claiming that while they risked losing money, Du Toit stood to benefit from the company's liquidation
Banxso's R57 million settlement offer was rejected, raising serious questions about the motives behind its liquidation proceedings.
Businessman Lekau Sehoana has announced the rebirth of the Drip brand with a new sneaker brand called Drip Sportif.
According to Statistics South Africa, more than 1,020 companies have had to shut down in 2024.
As Bafana Bafana prepares for crucial upcoming competitions, including the Africa Cup of Nations and World Cup qualifiers, the resolution of these proceedings carries significant implications for South African football's commercial partnerships.
This case highlights the need for greater scrutiny of liquidation proceedings, particularly when substantial offers of security are made by the company in question.
The company's commitment to client protection is evidenced by its response to a client's losses, as court documents revealed in the Western Cape High Court.