Signature slip-up leaves firm with R17m red face

News

Signature slip-up leaves firm with R17m red face

Company linked to controversial government projects suffers a fleecing after signing a dodgy debt deal

Journalist

A consulting company has suffered an embarrassing R17m loss after a losing out on a loan repayment.

When the National Health Laboratory Service (NHLS) appointed surveillance company Blue Future to provide equipment, the latter had to go elsewhere for funding to carry out the contract.

In papers before the High Court in Johannesburg, 605 Consulting Solutions, who provided the loan, detailed how they signed an agreement with the laboratory that the loan amount would be repayed to them directly once payment was due...

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