Beleaguered Fidentia's R8million loan made to leading businesswoman Danisa Baloyi was a normal loan and there was no intention to write it off, Ross Edwards, the former head of public relations and communication at Fidentia, told Business Report yesterday.
Beleaguered Fidentia's R8million loan made to leading businesswoman Danisa Baloyi was a normal loan and there was no intention to write it off, Ross Edwards, the former head of public relations and communication at Fidentia, told Business Report yesterday.
Edwards said that Fidentia executive chairman J Arthur Brown had given incorrect information about the loan to the press.
He was referring to a news report, carried by the Cape Argus on Sunday, which said that there had been claims that the loan was being written off at the time that the curators took over the administration of the company.
Brown had said that the curators were demanding that the loan be repaid.
Edwards said that the loan had been properly constituted to capitalise Baloyi's assets, according to Business Report. "It was not a gift. It was always understood by both parties concerned that it was repayable."
Baloyi, who was a trustee of the Living Hands Trust and an official of Living Hands (both associate firms of Fidentia), said that she had been advised by her lawyers not to comment on the Fidentia matter. - Sapa
No scrapping of Baloyi's loan
Beleaguered Fidentia's R8million loan made to leading businesswoman Danisa Baloyi was a normal loan and there was no intention to write it off, Ross Edwards, the former head of public relations and communication at Fidentia, told Business Report yesterday.
Beleaguered Fidentia's R8million loan made to leading businesswoman Danisa Baloyi was a normal loan and there was no intention to write it off, Ross Edwards, the former head of public relations and communication at Fidentia, told Business Report yesterday.
Edwards said that Fidentia executive chairman J Arthur Brown had given incorrect information about the loan to the press.
He was referring to a news report, carried by the Cape Argus on Sunday, which said that there had been claims that the loan was being written off at the time that the curators took over the administration of the company.
Brown had said that the curators were demanding that the loan be repaid.
Edwards said that the loan had been properly constituted to capitalise Baloyi's assets, according to Business Report. "It was not a gift. It was always understood by both parties concerned that it was repayable."
Baloyi, who was a trustee of the Living Hands Trust and an official of Living Hands (both associate firms of Fidentia), said that she had been advised by her lawyers not to comment on the Fidentia matter. - Sapa
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