Tongaat Hulett, once the pride of the sugar belt and a 134-year-old industrial icon, has collapsed under the weight of mismanagement, scandal and shifting global markets

The government says the ailing company is a crucial player in South Africa’s sugar value chain and its demise would have ‘far-reaching and devastating consequences’ for the sector

At a time when rampant unemployment — one of the country’s biggest crises and a national emergency — takes root, the looming jobs bloodbath will decimate not only the sugar industry but also blight efforts to reduce jobless numbers and wreak havoc on the region’s food security

Vision, the lead secured lender to the troubled sugar giant, said it was committed to saving the company and jobs despite the business rescue process failing

Did US ambassador to Liberia Mark Toner, US Africa bureau official Troy Fitrell, Africa adviser to the US president Massad Boulos and former US special envoy J Peter Pham have any conflict of interests in influencing the deal?

Tongaat Hulett can only exit business rescue once the approved plan is largely implemented or the company is no longer financially distressed

Vision Partners say they will “engage and settle” with the SA Sugar Association

Bidder says rescue practitioners tried to manipulate process to favour ANC funder Robert Gumede

Business rescue practitioner Metis has agreed to amend the ‘unlawful’ Vision group rescue plan

ANC funder Robert Gumede’s bid for the sugar giant may be on the rocks

The business rescue practitioners are also silent over the company’s debt deal

The agreement will give Terris Sugar discounted ownership of Tongaat Hulett’s R8 billion bank debt and control at the upcoming creditors’ vote