Metro plans huge debt write-offs
Two property companies in arrears with their municipal bills set to benefit by more than R120m in total — if council approves proposal
With a debtors book totalling R18bn, the Nelson Mandela Bay municipality wants to write off R88m of Africorp’s R176m municipal bill and R32.5m of Precision Properties’ R65m account.
In other cases, such as with the Coega Development Corporation, settlement offers are being discussed...
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
This article is reserved for The Herald subscribers.
A subscription gives you full digital access to all our content.
Already subscribed? Simply sign in below.
Already registered on DispatchLIVE, BusinessLIVE, TimesLIVE or SowetanLIVE? Sign in with the same details.
Questions or problems? Email helpdesk@heraldlive.co.za or call 0860 52 52 00.