Update: Since the publication of this article, an agreement to delay the liquidation proceedings to June has been reached. Read the update here . The liquidation proceedings of Tongaat Hulett are set to begin in the KwaZulu-Natal High Court, with the sugar industry and government officials looking to save the iconic company. In February, it was confirmed that Tongaat Hulett would enter liquidation proceedings after business rescue practitioners failed to find a way to save the 134-year-old company. The practitioners approached the KwaZulu-Natal High Court to terminate business rescue and place the group into provisional liquidation. This comes after a sale to the Vision Consortium failed. The company’s history dates back to 1892. The company was placed in business rescue in October 2022 due to accounting irregularities, financial misstatements and governance failures under former management. Not only did the company lose R12 billion in shareholder value and access to funding, but ...