‘Wolves and vultures’ circling ‘business opportunities’ used to describe liquidation of R14m farming enterprise for arrear debt of R4m. Moneyweb SouthAfrica LandBank
Farmers from all over the country are meeting on Wednesday to strategise against what they consider to be ill-considered debt collection measures by the Land Bank. This is allegedly done to salvage the struggling state-owned bank’s finances after years of mismanagement. In the process, the bank is allegedly abandoning its unique mandate considering the fluctuations associated with the industry.
Cois Harman from Zeerust, a fellow victim whose farming enterprise worth R14 million was liquidated for arrear debt of R4 million, says on the Facebook page that attorneys, advocates, liquidators and auctioneers – “also called jackals, wolves, hyenas and vultures” – see this as a business opportunity that they approach in a coordinated way.
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