Yekani liquidation suspended pending hearing

News

26 February 2020 News

The outcome from latest court appearance is that the process to liquidate Yekani Manufacturing has been suspended pending hearing on the business rescue application. The next court date will be confirmed in due course pending court processes. This yet again confirms that the Yekani matter is sub-judice.

In a statement from a Yekani spokesperson, they said “this outcome allows Yekani to re-affirm its commitment of protecting and saving the jobs of its 500 skilled workers. Yekani takes full responsibility for its current state and is grateful for the efforts made by the following organisations to save the company and its employees’ jobs: Department of Trade and Industry (DTI); the Eastern Cape Office of the Premier; Office of the Executive Mayor: Buffalo City; East London Industrial Development Zone (ELIDZ) and the Eastern Cape Department of Economic Development.

“Any matters pertaining to the company's business and financial processes including pending or secured business deal are not only sensitive, but confidential as well. In some cases, Yekani has had to sign non-disclosure agreements. All these matters are at the heart of the matter before Court and therefore providing details on these would not only mean that Yekani is disclosing sensitive and confidential information, but also that it is interfering with the processes in the pending court proceedings and its outcome. Yekani is still not able to provide any further details or comment on any rumours around this matter.”

Share this article:

Strengthening industry through strategic partnerships at KITE 2025
Specialised Exhibitions News
The KwaZulu-Natal Industrial Technology Exhibition is not just an exhibition, it is a powerhouse of industry collaboration where visitors and exhibitors gain access to authoritative insights, technical expertise, and high-impact networking opportunities.

Read more...

Solar Youth Project calls on industry to step up
News
With the second cohort completed training and the first cohort returning for their final module, host companies are urgently needed to turn the training into a long-term opportunity.

Read more...

Conlog powers SA’s future with national smart meter rollout
News
Conlog recently secured the RT29-2024 contract from National Treasury, which is seen to be a major milestone towards modernising SA’s utility infrastructure.

Read more...

Zuchongzhi-3 sets new benchmark
News
This latest superconducting quantum computing prototype features 105 qubits and 182 couplers to operate at a speed 10¹5 times faster than the most powerful supercomputer currently available.

Read more...

Automatic device attestation certificate for Panasonic
News
DigiCert recently announced it has partnered with Panasonic Industry Europe to integrate DigiCert Device Trust Manager with Panasonic’s PAN-MaX intelligent manufacturing service for seamless Matter certification of interoperable smart home devices.

Read more...

From the editor's desk: Are we really being ripped off?
Technews Publishing News
To the surprise of many customers, installing solar panels does not always eliminate their utility bill – and in some cases, the power utility may impose additional charges on solar-powered homes.

Read more...

Winner of the Advanced Electronics Challenge
Avnet Silica News
Avnet Silica has named Hydronauten winner of the Advanced Electronics Challenge for breakthrough AI-driven vibration damping technology.

Read more...

Categories

News

Yekani liquidation suspended pending hearing

Further reading:

Publications by Technews