09 November 2018 - NW3074
Macpherson, Mr DW to ask the Minister of Economic Development
Whether any of the companies that the Industrial Development Corporation (IDC) invested in had any court judgments handed down against them for failure to pay their creditors; if so, what (a) is the name of each company, (b) amount did the IDC invest in each company and (c) was the nature of the judgment handed down in each case?
I have been furnished with a reply by the CEO of the IDC, Mr Geoffrey Qhena, to the question, which I quote as follows:
“The IDC in the ordinary course of business does not have sight of court judgments handed down against its clients by third parties, unless it is within the realm of liquidation and/or business rescue process.”