Pula Steel goes under

In a court order granted recently, High Court judge, Tshepo Motswagole cancelled Pula Steel’s judicial management order of March 2017 and appointed John Hinchliffe as the provisional liquidator giving all stakeholders until December 5, 2017 to show reason why the decision should not be made final.

The court’s decision followed an application by the liquidator of BCL, Nigel Dixon-Warren to place the company under provisional liquidation as the shareholders of Pula Steel had failed to inject fresh funds into the company.