BCL creditors face long wait to get payment

Thursday, January 19, 2017

Nigel Dixon-Warren PIC: KENNEDY RAMOKONE

SELEBI-PHIKWE: The provisional liquidator of the BCL Group, Nigel Dixon-Warren has said creditors will only get any payment if there is sufficient funds when the liquidation process is finalised, possibly towards the end of 2017.

He explained during a press conference here on Tuesday that the High Court will decide on February 7 if the companies should be placed under final liquidation.

He stated that afterwards, the Master of the High Court will convene a meeting so that creditors can prove their claims against the three subsidiaries of the BCL Group so that they can issue instructions to the liquidator and receive payment against their claims at the end of the liquidation process.

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