African Global Holdings — formerly Bosasa — says placing the Bosasa group of companies under liquidation was void from the beginning
Former Bosasa COO Angelo Agrizzi takes the stand on January 22 2019. Picture: ALON SKUY
Bosasa has been accused during evidence presented to the state capture inquiry by its former COO, Angelo Agrizzi, of having bribed government officials and ministers with millions of rand to win lucrative government contracts. Hellens said the trigger for the liquidation‚ a special resolution by all companies under African Global Holdings‚ was never pulled.Hellens said the six African Global Operations directors who met on February 12 had made a mistake when they purportedly signed for the companies to be placed under voluntary liquidation.
The closure of the companies’ bank accounts meant they would not be able to pay their employees and suppliers, nor receive payment to themselves for services rendered. “On what basis do I now ignore this evidence and say no meeting took place?” Ameer asked. Hellens said the directors needed a solution and debated business rescue with the attorney.
He said the companies were insolvent as they could not pay debts because they did not have bank accounts.
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