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.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

Have a Story? Send Us a tip
arrow up