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Bosasa To Auction Off Assets In Order To Settle Debt

African global 696x392 1 e1550585842299 - Bosasa To Auction Off Assets In Order To Settle Debt

Bosasa’s assets will be auctioned off next month to settle the debt the company owed to creditors.

The embattled company, now named African Global Operations and most of its subsidiaries, were liquidated earlier this year.

The company has been hit by allegations of corruption, dodgy dealings and bribery of prominent politicians in order to secure billions in lucrative contracts.

CEO Gavin Watson died in August in a car accident days before he was expected to appear at the Zondo commission of inquiry.

He had been fingered by former COO Angelo Agrizzi as the mastermind behind the corruption.

Clive Lazarus, from Park Village Auctions, is in charge of the sale: “We’re selling a copper plant, about a 120 vehicles and some beautiful office furniture and house furniture.”

Park Village Auctions also said the companies in question were Global Technology Systems (Pty) Ltd, Bosasa Properties (Pty) Ltd, Rodcor (Pty) Ltd, African Global Operations (Pty) Ltd, Watson Corporate Academy (Pty) Ltd, On-IT-1 (Pty) Ltd, Bosasa IT (Pty), Bosasa Supply Chain Management (Pty), Leading Prospect Trading 111 (Pty), Bosasa Youth Development Centres (Pty) Ltd, Black Rox Security Intelligence Services (Pty) Ltd, giving rise to the extensive variety of lots to be sold.

EWN

The post Bosasa To Auction Off Assets In Order To Settle Debt appeared first on iAfrica.com.

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