Third attempt to wind up Oakbay heads to court
Business rescue practitioners for the eight Gupta companies under rescue have applied to the Johannesburg High Court for the winding up of Oakbay Investments, one Gupta company that avoided being placed under rescue.
The application is being brought by Tegeta Exploration and Resources and Island site Investments, both of which were placed under business rescue nearly two years ago.
Read: Swarm of court cases engulfs former Gupta mines
This is the third time the practitioners have applied for the winding up of Oakbay. The first application in September 2018, claiming R2 million in rental and services owed by Oakbay to Tegeta, was withdrawn when the claim was settled. In February 2019 a second winding-up application claimed Oakbay owed R3.8 million, but it too was withdrawn when the bill was paid at the last minute.
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