Liquidation
Central Bank imposes eight-year secrecy on Banco Master liquidation documents
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Brazil's Central Bank has classified documents related to the extrajudicial liquidation of Banco Master as secret for eight years, with public release set for November 2033. The decision follows internal norms and aims to preserve the country's financial, economic, and monetary stability. It responds to a request by Folha under the Access to Information Law.
Kings Pride Properties Limited has announced it is shutting down operations in Kenya after more than eight years in property development. A Nairobi High Court issued a liquidation order, appointing a liquidator and giving claimants 30 days to submit details. The closure will affect nearly 300 Kenyan employees.
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A last-minute R200-million funding deal from the Industrial Development Corporation has prevented the liquidation of sugar giant Tongaat Hulett, allowing its mills in KwaZulu-Natal to open for the cane crushing season. This provides relief to more than 18,000 growers who depend on the company's facilities. The Durban high court adjourned the winding-up application until 17 June.