Try GOLD - Free
IDC hires private security to guard equipment at BT Industrial
The Star
|September 12, 2025
THE Industrial Development Corporation (IDC), which had anticipated a South Gauteng High Court judgement to liquidate empowerment company BT Industrial Group (BTIG) for an R136 million debt has had to hire private security to guard equipment at the company's premises amidst fears they have already begun asset stripping.
The legal matter has been postponed sine die following the late filing of an application to oppose the liquidation order. This is as the matter had been set for Thursday for a final judgement by the Gauteng High Court, which had been expected to grant the IDC authority to dispose of the moveable property of the BTIG to recover the debt.
The court could not confirm the order after the BTIG, through its attorneys, filed a notice to oppose, requiring the matter to be set for a hearing at a future date.
Sources close to the matter have said the IDC, in fear of losing out on expensive equipment, which could recapture some of the debt, had hired a private security firm to maintain a presence outside of the BTIG's facilities.
This story is from the September 12, 2025 edition of The Star.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Star
The Star
Cohabiting couples can claim joint estate
THE Supreme Court of Appeal in a recent judgment once again recognised cohabiting relationships, where couples are not married, and noted that the partnership does not need to be formal, such as in the case of marriage, before one partner can share in the joint estate accumulated during their cohabitation.
2 mins
October 14, 2025
The Star
Mbeki : It ‘hurts’ me when Operation Dudula blames foreign nationals for SA’s problems
FORMER President Thabo Mbeki says it hurts him when he sees Operation Dudula blaming foreign nationals for South Africa's problems, adding that the nation's challenges cannot be blamed on migrants.
2 mins
October 14, 2025
The Star
From 3-Step pioneer to global force: Thakzin opens ‘Gods Window’
THAKZIN, born Thabang Mathebula, has become one of the most recognised forces in South African music.
4 mins
October 14, 2025
The Star
Closed doors controversy: Madlanga Commission delays proceedings
THE Madlanga Commission was adjourned again yesterday morning following an application by media houses to stop the proceedings from being held behind closed doors.
1 mins
October 14, 2025
The Star
ASP Isotopes announces major expansion with new supply agreement and acquisition
THE JSE share price of ASP Isotopes, an advanced materials company that produces isotopes for various industries, surged by 28% to R210 on Monday after the announcement of a new supply agreement for enriched silicon-28 and a strategic acquisition.
2 mins
October 14, 2025
The Star
IMF meetings to begin under fresh cloud of US-China trade tensions
THE International Monetary Fund (IMF) and World Bank's semiannual gathering of finance ministers and central bank governors gets underway in Washington on Monday, against the backdrop of new trade threats from the world's two largest economies.
2 mins
October 14, 2025
The Star
Lunga Momoza: The most expensive intern in South Africa
MOST people in tech start a career as interns and ultimately they become CEOs and if they start a business they also become tech founders. It's rare for anyone to start as a founder and to later become an intern. This has been the case with Lunga Momoza, which makes him probably one of the most expensive interns in South Africa.
3 mins
October 14, 2025
The Star
A tribute and a transition: Fourie, Reddy, and the Book of Legacy
IN A WARM, meaningful exchange yesterday, Dr Leila Fourie, outgoing CEO of the JSE, handed me a copy of Architects of Influence: Women in Business, a fitting token from a leader whose tenure has embodied that very narrative.
1 min
October 14, 2025
The Star
How deadly N1 bus crash could have been avoided
Outcry over the accident that claimed over 40 lives, as calls for a thorough investigation mount
3 mins
October 14, 2025
The Star
Trio wins economics Nobel for work on tech-driven growth
The Nobel prize in economics was awarded on Monday to American-Israeli Joel Mokyr, France's Philippe Aghion and Canada's Peter Howitt for work on technology's impact on sustained economic growth.
1 min
October 14, 2025
Listen
Translate
Change font size