Dead business, disputed debt and a bank that ran out of patience
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A Durban trust is facing sequestration after closing its butchery, delicatessen, and bakery. The trust failed to repay a multimillion-rand loan from Standard Bank. Municipal bills remained unpaid despite promises to organize its finances.
A Durban trust whose butchery, delicatessen and bakery have closed is facing sequestration after failing to repay a multimillion-rand Standard Bank loan, while unpaid municipal bills piled up and promises to sort out its finances came to nothing.