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BCL moves to liquidate Pula Steel

Shareholders' failure to inject fresh cash has pushed Pula Steel towards liquidation
Shareholders' failure to inject fresh cash has pushed Pula Steel towards liquidation

After shareholders of Pula Steel failed to inject fresh funds into the company, the provisional liquidator of BCL has filed for the steel-making company to be put under provisional liquidator.

BCL, which is the majority shareholder in Pula Steel, is also the biggest creditor of the steel making company, which is currently under judicial management.

 Provisional liquidator of BCL, Nigel Dixon Warren told BusinessWeek that following shareholders’ failure to inject fresh funds into the company he was left with no option but to apply to the High Court for the company to be put under liquidation.

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Editor's Comment
Celebrate responsibly, put safety first this holiday

“Safety first is safety always”– Charles M HayesAs most people begin travelling across the country to spend the President’s Holidays with family and friends, there is every reason to embrace the joy and togetherness that this period brings.While holiday periods bring joy, they are sadly often accompanied by a rise in road accidents, violent incidents and other avoidable tragedies. Too often, families that set out to celebrate together end...

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