STATUS MARITIME has been liquidated as its rapid expansion plans ran onto the rocks of international business.
The suspension of its proposed SA-Europe liner service by Status Maritime Shipping was the first apparent sign of cracks in its ambitious expansion plans. But the line foundered when European finance sources withheld their cash.
An application to the Johannesburg High Court was made for the liquidation of Status Maritime (Pty) Limited, according to attorney Christopher Brand of Hofmeyer, Herbstein, Gihwala, Cluver & Walker Inc. "On Friday, June 25," he told FTW, "the court granted a provisional winding up order, which order is returnable on August 3."
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