RGS takes Tongaat, Vision to High Court over ‘unimplementable’ rescue plan

Mozambican investment group RGS Holdings has submitted an urgent application in the Durban High Court to interdict and set aside the implementation of embattled sugar producer Tongaat Hulett’s business rescue plan, which involves the sale of the group’s assets to the Vision consortium.

RGS is also seeking the disclosure of a range of information from Tongaat’s business rescue practitioners (BRPs) and the Vision consortium, which it will unpack in a court hearing scheduled for November 28.