Sister’s kidnapping helped push troubled transport firm over the edge
Judges slaps provisional liquidation on controversial companies owned by Sandra Munsamy’s two brothers
Crossmoor Transport, the logistics company owned by KwaZulu-Natal business tycoons, brothers Alvin and Inderan Naicker, has been placed in provisional liquidation by Absa Bank.
One of the excuses for its “cash-flow problems” was the kidnapping of their sister, company CFO Sandra Munsamy, in May 2019.
The company – and its “sister” company, Xmoor – owe the bank R141m for financed equipment and, at the time of the liquidation hearing in May, was in arrears for about R6.6m...