Mmegi

High Court showdown looms over Tongaat Hulett Botswana

Sour times: The High Court will hear the legal challenge next month
Sour times: The High Court will hear the legal challenge next month

The High Court in Gaborone will next month hear a case in which rival parties are seeking control of Tongaat Hulett Botswana (THB), the country’s leading sugar distributor and holder of the Blue Crystal Sukiri brand.

The case follows an attempt in February by Bowwood and Main No 296 Pty Ltd to take control of THB via a successful ex parte application before the High Court. The order was for a general notarial bond over the assets of Tongaat Hulett held in THB.

Tongaat Hulett Ltd was placed in business rescue in 2022 after failing to recover from an accounting scandal that exposed huge debts and left the 133-year-old company owing billions of pula to various banks and lenders.

Editor's Comment
Let the courts follow the money

“Law and order are the medicine of the body politic and when the body politic gets sick, medicine must be administered.”– B.R. AmbedkarThe amount of money at play threatens to test the integrity of the country’s financial system, giving more reason to why the courts must be fully given leeway to lean on the matter and reach a conclusion.Botswana has spent decades building her reputation as a stable and credible financial jurisdiction.The...

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