Insurance group Hollard is seeking to liquidate JSE-listed cannabis company Labat Africa over an unpaid debt of roughly R20 million, according to IOL. The liquidation application follows a judgment obtained against the firm. Labat Africa is reportedly contesting the debt while simultaneously negotiating settlement agreements with other creditors as it attempts to avoid being wound up. The case highlights ongoing financial difficulties facing the company, which operates in South Africa's emerging cannabis sector.
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