Post Office business rescue termination process begins

BUSINESS rescue practitioners are preparing to file papers with the High Court as part of the exit strategy from the South African Post Office (SAPO).

- MAYIBONGWE MAQHINA

This was revealed by co-business rescue practitioner Anoosh Roopal, along with his co-business rescue practitioner Juanito Damons, who briefed the Communications and Digital Technologies Portfolio Committee yesterday.

“We are in discussions with the department around the business rescue having to end and business rescue practitioners having to leave,” Roopal said.

SAPO was placed under provisional liquidation in February 2023 and later on business rescue in July 2023 after the board of directors was dismissed two months earlier.

Upon their appointment, Roopal and Damons developed a business rescue plan that was approved by the creditors and then assumed management control of the business.

Roopal said they were now in discussions with the Department of Communications and Digital Technologies and preparing a court application to terminate the business rescue process.