South Africa: Hotel Industry Shaken By Liquidation

The hotel industry in Durban has been shaken up by the forced liquidation of a boutique hotel management company following claims that its directors misappropriated money and were in effect running the business like a pyramid scheme.

Directors of Signature Life Hospitality have hit back, saying they will take legal action against the "scandalous, vexatious and defamatory allegations". However, owners of some of the 16 hotels that used to be managed by Signature Life are confident that a liquidation inquiry will reveal what has happened to millions of rand they say is owed to them.

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