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.
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.
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Scottish craft beer company Brewdog is preparing to announce the sale of its business early next week, according to an email from chief executive James Taylor to staff. The firm will liquidate its German operations, excluding them from the sale, while bars continue to operate normally this weekend. Investors express concerns over potential losses from the crowdfunding scheme Equity for Punks.