The original article can be found here.
Article highlights:
- Sugar producer Tongaat Hulett has filed a R450 million civil claim against some of its former executives and is also seeking a order declaring them as delinquent directors.
- In its forensic investigation on the irregularities PwC found that some senior executives at Tongaat had allegedly been part of inflating the group’s profits.
- The sugar producer explained that in addition to seeking an order declaring the former directors as delinquent, it has also launched separate proceedings though its Tongaat Hulett Developments business, against former managing director Michael Deighton.
