Solidarity to auction Denel assets to pay R90m debt owed to employees.
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Trade union Solidarity will hold the first of several auctions of State-owned defence company Denel’s assets on July 15.
Solidarity seized these assets earlier this year owing to Denel’s failure to pay about R90-million in debt to Solidarity members in terms of a court order.
The seizure and auctioning of assets is now the only option after Denel violated several agreements between the parties, the union says.
Solidarity seized these assets earlier this year owing to Denel’s failure to pay about R90-million in debt to Solidarity members in terms of a court order.
The seizure and auctioning of assets is now the only option after Denel violated several agreements between the parties, the union says.
