Sascoc insists it is solvent

The SA Sports Confederation and Olympic Committee (Sascoc) insists it is still solvent and is prepared to battle a bid to sequestrate it.

The umbrella sports body was reacting to a report that Highbury Safika Media (HSM)‚ which used to produce its monthly magazine, had applied for the liquidation of Sascoc.

“We intend to oppose the application for liquidation of the organisation‚” Sascoc said in a statement on Tuesday‚ adding it had made the company aware in October that it was reviewing all current supplier contracts.

HSM had also rejected Sascoc’s offer in December to negotiate a settlement.

“We wrote to their legal representatives to state the above and to seek a round-table meeting with them to find an amicable way forward‚ which they refused.”

Sascoc also questioned the renewal option clause‚ saying it was unfairly in HSM’s favour.

In 2018 Sascoc’s offer to negotiate a settlement was rejected