A group tried to stop some people from buying a big sugar company called Tongaat Hulett. The group asked a special court in Durban to help them. The court said no and told them they would need to pay money to bring this case.
The people who wanted to buy Tongaat belong to a team called Vision. Most of the people Tongaat owes money to said it was okay for Vision to buy the company. This happened on January 11, 2024. The judge said the group who didn't want this sale should have spoken up earlier if they thought something was wrong.
A man named David Woollam wants everyone to know what's going on with Tongaat. He says people need more information about the money Vision will pay. He thinks there might be secret parts in the agreement that nobody knows about. David belongs to a group of people who own small parts of Tongaat.
David thinks Vision's plan to buy Tongaat breaks some important rules. He says you can't sell a company piece by piece without first checking with special people. He believes this isn't the right way to help fix the company's money problems.
The court said the group could still try to stop the sale later. But David says this might take a very long time, maybe more than two years. He thinks the people buying Tongaat want everyone to give up fighting against the sale by making them wait for such a long time.
The people who wanted to buy Tongaat belong to a team called Vision. Most of the people Tongaat owes money to said it was okay for Vision to buy the company. This happened on January 11, 2024. The judge said the group who didn't want this sale should have spoken up earlier if they thought something was wrong.
A man named David Woollam wants everyone to know what's going on with Tongaat. He says people need more information about the money Vision will pay. He thinks there might be secret parts in the agreement that nobody knows about. David belongs to a group of people who own small parts of Tongaat.
David thinks Vision's plan to buy Tongaat breaks some important rules. He says you can't sell a company piece by piece without first checking with special people. He believes this isn't the right way to help fix the company's money problems.
The court said the group could still try to stop the sale later. But David says this might take a very long time, maybe more than two years. He thinks the people buying Tongaat want everyone to give up fighting against the sale by making them wait for such a long time.
