‘Liquidation is in interest of creditors, workers’

Those owed by Xuma will be duly assisted, says Miller

Rueben Miller of RMG Trust, insolvency and liquidation practitioners, said Xuma Technologies was placed under provisional liquidation by the order of the high court in Durban on February 24.

Miller said his firm and that of MacDonald Chitja, based in Durban, were appointed joint provisional liquidators in the matter.

This means creditors who are based in Durban should go to Chitja for help, and those in Gauteng to Miller’s office.

Miller said the Companies and Close Corporations Act compelled Xuma to disclose all its creditors and to cooperate in the winding up process, but the company did not oblige when asked for information.

As a result, it was impossible for Miller’s firm to notify Ndobe, Ramazhamba and Ngakane of the liquidation.

Miller said Xuma was supposed to meet them and arrange for all books and records, but cancelled the meeting at the last hour.

He said the next court date was scheduled for June 6 and any interested party would be invited to give strong reasons why Xuma should not be finally liquidated.

Miller said Xuma had a duty to notify all its creditors of the impending liquidation as failure to do so is both reckless and fraudulent. He said the purpose of liquidation is to freeze business operations so that it does not incur more debt.

Miller said this was done in the interest of the creditors, the company and its employees.

Miller said he would assist Ngakane and Cakata reclaim their money through the liquidation process as soon as the final liquidation order is granted.

Consumer Line tried to contact Nathi Nkosi, CEO of Xuma Technologies but he ignored phone calls and our e-mails.

Affected creditors in Gauteng should contact Miller at 25 Sturdee Avenue, Rosebank.