Presentation to Portfolio Committee: REDISA – Performance during Liquidation May 2018.

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Presentation transcript:

Presentation to Portfolio Committee: REDISA – Performance during Liquidation May 2018

Presentation Outline # TOPIC 1 Active Participants 2 Collections & Deliveries 3 Cash Resources 4 Liquidation Process

1. Active Participants The following performance information has been received from the provisional liquidators: ACTIVE PARTICIPANTS AS AT JUNE 2017 MICRO COLLECTORS 499 TRANSPORTERS 78 DEPOTS 20 PROCESSORS 15

2. Collections and Deliveries: June to September 2017 July August September TOTAL Tonnages collected 6386.78 7711.13 7978.35 7127.24 29 203,50 Tonnages delivered for processing 4936.11 4284.48 3852.98 3813.09 16 886,66

3. Cash Resources: June to September 2017 Cash resources of REDISA at date of provisional liquidation and cessation of operations (30/09/2017): 1 June 2017 30 September 2017 Cash resources R 178 547 943 R 82 451 332

4. Liquidation Process All REDISA’s assets are securely stored, save for those which are being utilized by the Waste Management Bureau as per the interim arrangement. Provided the final liquidation order is upheld by the SCA, the provisional liquidators will then commence disposal of assets and finalising creditors’ claims. The provisional liquidators will, in due course, lodge a liquidation and distribution account with the Master of the High Court in relation to the administration of REDISA.