The Johannesburg high court has declared the special resolutions that was taken by Bosasa’s board to place the company into voluntary liquidation null and void.
On February 12, the company’s board voluntarily placed the company under liquidation. Soon after, liquidators Cloete Murray, Ralph Lutchman and Tania Oosthuizen among others were appointed to run the company.
The court has also declared that the liquidators must surrender control of the company back to its directors within 12 hours.
This is a developing story and will be updated as more details become available.