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RCL Foods withdraws application to interdict one of Tongaat Hulett’s rescue plans

# RCL Foods has withdrawn an application to interdict one of Tongaat Hulett’s rescue plans after engaging with the company’s business rescue practitioners. Selati Sugar had taken issue with a plan that would see money owed to the SA Sugar Association paid into an escrow account only after a rescue plan is implemented. RCL said on Sunday it still has concerns, although the lawfulness of the plan has now been resolved. Amended plans for the company were released last week, with 10 January set as date for a vote on the changes and possibly new ownership.