The sugar giant's business rescue practitioners have filed for provisional liquidation after a R12-billion collapse, citing a breakdown in funding talks and new demands from the Vision consortium.
The struggle to save Tongaat Hulett Limited has reached a terminal point. According to a media release issued by the company's joint business rescue practitioners, they have applied to the KwaZulu-Natal division of the High Court for an order to discontinue rescue proceedings and place the sugar producer into provisional liquidation.
The move comes exactly a week after the business rescue practitioners launched a final legal salvo on Thursday, 5 February 2026, seeking leave to appeal a December 2025 Supreme Court of Appeal (SCA) ruling regarding the status of industry levies to the South African Sugar Association.
On Monday, 9 February, Tongaat Hulett Limited told Daily Maverick that its business rescue plan did provide for the payment of the SA Sugar Association levies, but only once the transaction closed.
"The filing of the application for leave should in no way be construed as a withdrawal from any commercial engagements."
The company also confirmed to Daily Maverick on Monday that the continued litigation would have no impact on the timeline for finalising the transaction with the Vision Group or refinancing negotiations with the Industrial Development Corporation.
According to the business rescue practitioners, the decision to liquidate follows the "lapsing of the...
