Fidentia's curators have told businesswoman Danisa Baloyi to cough up R8million in 90 days or they'll sue her, the SABC reported yesterday.
Fidentia's curators have told businesswoman Danisa Baloyi to cough up R8million in 90 days or they'll sue her, the SABC reported yesterday.
The now-permanent curators are determined to recover millions of rands of investors' money.
The company's curators have called in an R8million interest-free loan the company made to Baloyi. Joint curator Dines Gihwala said yesterday the loan was repayable on 90-days' notice.
Baloyi, Businesswoman of the Year in 2003, was a director and trustee of Fidentia, which was placed under final curatorship in the Cape high court on Tuesday.
Also on Tuesday, Baloyi said she had relinquished all her posts with companies and non-governmental organisations.
A week earlier, she was fired from the board of the Absa Group and from Absa Bank.
She has also stepped aside as chancellor of the University of Fort Hare.
An online daily newspaper reported yesterday that at one point in her career Baloyi was serving on 100 boards of directors. This meant she would have had to attend a board meeting every three working days, in addition to normal business activities . A healthy corporate norm was to serve in no more than three or four directorships.
The newspaper said that before the resignations and firings of the past two weeks she was still a director in 78 companies. - Sapa
Repay R8m or we sue - Baloyi warned
Fidentia's curators have told businesswoman Danisa Baloyi to cough up R8million in 90 days or they'll sue her, the SABC reported yesterday.
Fidentia's curators have told businesswoman Danisa Baloyi to cough up R8million in 90 days or they'll sue her, the SABC reported yesterday.
The now-permanent curators are determined to recover millions of rands of investors' money.
The company's curators have called in an R8million interest-free loan the company made to Baloyi. Joint curator Dines Gihwala said yesterday the loan was repayable on 90-days' notice.
Baloyi, Businesswoman of the Year in 2003, was a director and trustee of Fidentia, which was placed under final curatorship in the Cape high court on Tuesday.
Also on Tuesday, Baloyi said she had relinquished all her posts with companies and non-governmental organisations.
A week earlier, she was fired from the board of the Absa Group and from Absa Bank.
She has also stepped aside as chancellor of the University of Fort Hare.
An online daily newspaper reported yesterday that at one point in her career Baloyi was serving on 100 boards of directors. This meant she would have had to attend a board meeting every three working days, in addition to normal business activities . A healthy corporate norm was to serve in no more than three or four directorships.
The newspaper said that before the resignations and firings of the past two weeks she was still a director in 78 companies. - Sapa
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