Today's Labour News

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newsBusinessLive reports that the rescue of the Gupta’s embattled Shiva Uranium has sprung back into life after months of delays.  

According to business rescue practitioner Christopher Monyela, Shiva workers, who had not been paid since July, received a full month’s salary in December.  Further, a section 189 retrenchment process was completed.  “The purpose is not entirely to retrench the employees.  It’s also to enable the workers to get UIF [Unemployment Insurance Fund] as well as their provident funds,” explained Monyela.  If Shiva can be sold as a going concern, these employees will be given first right of refusal, meaning the new owners must consider the former employees before hiring new workers.  The process of medical exit examinations has also now begun at Shiva.  In February 2018 Shiva and eight other Gupta-affiliated businesses were placed into business rescue, but the process has been hamstrung by disputes in recent months (as outlined in report).  Advertisements inviting prospective buyers for Shiva to come forward will be placed in February.

  • Read the original of the report by Lisa Steyn in full at BusinessLive


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