Nedbank launches bid to liquidate Damelin, CityVarsity and others

Bank aims to recoup nearly R50m in unpaid loans from the Leo Chetty Group, owner of Educor

Kabelo Khumalo Companies & Markets Editor
Damelin College at Braamfontein in Johannesburg. Picture: FREDDY MAVUNDA/BUSINESS DAY
Damelin College at Braamfontein in Johannesburg. Picture: FREDDY MAVUNDA/BUSINESS DAY

Banking group Nedbank has launched a bid to liquidate the Leo Chetty Group, the owner of embattled private higher education institutions Damelin, CityVarsity, Icesa and Lyceum College — dealing a further blow to the group after the entities were deregistered by the government in March.

Read more here: www.businesslive.co.za


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