Hollard moves to liquidate JSE-listed cannabis firm Labat Africa after a reported R20 million judgment debt. The company is set to be wound up as the dispute over the amount and liability remains unresolved, according to the outlet reporting on the matter.
Labat Africa disputes the debt and continues efforts to address its obligations. Alongside fighting the judgment, the company is said to be in negotiations with other creditors, aiming to reach settlements that would manage or reduce the financial impact.
The reports focus on the debt-driven basis for Hollard’s move while providing limited additional detail on the underlying claims or the status of court proceedings. Overall, the coverage centers on the same core issue: Hollard’s attempt to end Labat Africa’s operations linked to the R20 million figure, contrasted with Labat Africa’s ongoing efforts to contest the debt and negotiate with creditors.
