Subscribe & Follow
Advertise your job vacancies
Trending
Jobs
- Personal Assistant and Project Coordinator to CEO Cape Town
- SEO and Content Creator Intern Cape Town
- Media - Sales Manager - Digital or Broadcasting Exp Essential or Both Johannesburg
- Content Creator Cape Town
- Head of Performance Marketing South Africa
- Journalist Intern Johannesburg
- Acount Manager Johannesburg
- Senior Media Sales Executive - OOH Johannesburg
- Multi Media Journalist | South Coast Sun Durban
Section 417 investigation into CNA
The High Court has approved an application by Terry Moolman, CEO of CTP, for a section 417 investigation into CNA's affairs. Moolman would like it known where funds used to pay Wooltru came from, why the top 61 stores were separated from the rest of the company, and what ABSA's involvement in the deal was. As one of CNA's creditors CTP wants to know where the group's money has gone and how it can be gotten back. It's Moolman's belief that CNA was restructured on ABSA's advice in such a way as to put creditors "at the back of the queue" while giving the bank additional securities.
Source: MoneyWeb
