Placing SA Express under business rescue good for employees - Solidarity
The Johanessburg High Court on Thursday ordered that SA Express be placed under business rescue.
South African Airways was placed into voluntary business rescue in early December.
In an effort to recover around R11.3 million allegedly owed by SA Express, transport and logistics company Ziegler filed an urgent court application to have the airline placed under business rescue.
Clement Manyathela chats to Solidarity legal department head Anton van der Bijl to weigh in on the matter.
This is a positive and important judgment and it shows that state-owned companies are compliant with the Companies Act. The judgment is unfortunate for SA Express as you have another state-owned company in a dire financial position. It is unfortunate for them but fortunate for the employees.Anton van der Bijl, Legal department head - Solidarity
SA Express, on the other hand, released a statement saying it will appeal the judgment.
Listen below to the full conversation:
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